https://www.taxtmi.com/caselaws?id=15273 The High Court dismissed the Revenue's application for reference, upholding the Tribunal's decision that the assessee's belief regarding the non-taxability of conveyance allowance was genuine. It was found that the assessee had not acted with mala fide intent in not deducting tax at source, leading to the conclusion that no penalty was applicable under sections 201 and 201(1A) of the Income-tax Act. The Court reiterated that the tax deduction at source is provisional and subject to subsequent assessment in the hands of the recipient. en-us Mon, 31 Jan 2000 00:00:00 +0530 Tue, 04 Aug 2009 13:25:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15273 The High Court dismissed the Revenue's application for reference, upholding the Tribunal's decision that the assessee's belief regarding the non-taxability of conveyance allowance was genuine. It was found that the assessee had not acted with mala fide intent in not deducting tax at source, leading to the conclusion that no penalty was applicable under sections 201 and 201(1A) of the Income-tax Act. The Court reiterated that the tax deduction at source is provisional and subject to subsequent assessment in the hands of the recipient. Case-Laws Income Tax Mon, 31 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15273