https://www.taxtmi.com/caselaws?id=348476 The High Court ruled in favor of the Revenue, setting aside the Tribunal's order and reinstating the penalty imposed under Section 271C of the Income Tax Act for non-deduction of TDS on interest paid to sister concerns. The Court held that the penalty was applicable in the absence of proof of reasonable cause for not deducting tax at source, emphasizing that mens rea is not necessary for imposing such penalties. The appeal by the Revenue was allowed, and the parties were directed to bear their respective costs. en-us Wed, 30 Aug 2017 00:00:00 +0530 Sat, 18 Nov 2017 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348476 The High Court ruled in favor of the Revenue, setting aside the Tribunal's order and reinstating the penalty imposed under Section 271C of the Income Tax Act for non-deduction of TDS on interest paid to sister concerns. The Court held that the penalty was applicable in the absence of proof of reasonable cause for not deducting tax at source, emphasizing that mens rea is not necessary for imposing such penalties. The appeal by the Revenue was allowed, and the parties were directed to bear their respective costs. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348476