https://www.taxtmi.com/caselaws?id=355250 The Tribunal upheld the deletion of the penalty imposed under section 271C of the Income Tax Act, 1961 for failure to deduct tax at source. The Commissioner (Appeals) and the Tribunal found that the assessee had a reasonable cause for the delay in tax deposit, as explained by the financial crisis caused by a dispute with a contractor. The Tribunal concluded that the assessee met the criteria of section 273B by providing a valid explanation, leading to the dismissal of the appeal as no substantial question of law was raised. en-us Wed, 31 Jan 2018 00:00:00 +0530 Mon, 12 Feb 2018 07:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355250 The Tribunal upheld the deletion of the penalty imposed under section 271C of the Income Tax Act, 1961 for failure to deduct tax at source. The Commissioner (Appeals) and the Tribunal found that the assessee had a reasonable cause for the delay in tax deposit, as explained by the financial crisis caused by a dispute with a contractor. The Tribunal concluded that the assessee met the criteria of section 273B by providing a valid explanation, leading to the dismissal of the appeal as no substantial question of law was raised. Case-Laws Income Tax Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355250