https://www.taxtmi.com/caselaws?id=362275 The Tribunal allowed the appeals by the assessee, deleting the penalties imposed under section 271C of the Income Tax Act for the assessment years in question. The Tribunal found that the penalties were not sustainable, considering the assessee's bona fide belief for non-deduction of tax at source as a reasonable cause under section 273B. The decision was based on previous legal precedents and the specific circumstances of the case, leading to the deletion of the penalties and a favorable outcome for the assessee. en-us Tue, 19 Jun 2018 00:00:00 +0530 Thu, 21 Jun 2018 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362275 The Tribunal allowed the appeals by the assessee, deleting the penalties imposed under section 271C of the Income Tax Act for the assessment years in question. The Tribunal found that the penalties were not sustainable, considering the assessee's bona fide belief for non-deduction of tax at source as a reasonable cause under section 273B. The decision was based on previous legal precedents and the specific circumstances of the case, leading to the deletion of the penalties and a favorable outcome for the assessee. Case-Laws Income Tax Tue, 19 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362275