https://www.taxtmi.com/caselaws?id=277972 The tribunal allowed the appeals filed by the assessee, granting relief from penalties for A.Ys. 2003-04 to 2006-07. The penalty imposed for failure to deduct tax at source on payments made for MICR cheques clearance was deemed unwarranted due to the debatable nature of the issue and the assessee's good faith actions. The tribunal cited 'reasonable cause' and directed the deletion of penalties for all years under consideration, following a similar case precedent. en-us Thu, 26 Feb 2015 00:00:00 +0530 Thu, 03 Jan 2019 06:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277972 The tribunal allowed the appeals filed by the assessee, granting relief from penalties for A.Ys. 2003-04 to 2006-07. The penalty imposed for failure to deduct tax at source on payments made for MICR cheques clearance was deemed unwarranted due to the debatable nature of the issue and the assessee's good faith actions. The tribunal cited 'reasonable cause' and directed the deletion of penalties for all years under consideration, following a similar case precedent. Case-Laws Income Tax Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277972