https://www.taxtmi.com/caselaws?id=16168 Valid jurisdiction could be conferred on the Assistant Commissioner under the Act to impose penalty for failure to deposit tax deducted at source within time. The penalty under section 221 was treated as distinct from the default covered by section 271C, because section 221 addresses non-deposit of deducted tax, not non-deduction. Subsequent payment of the tax, payment of interest, or financial hardship did not remove liability for penalty, and business loss was not a defence to the statutory obligation to remit deducted tax to the Central Government within the prescribed time. en-us Thu, 13 May 1999 00:00:00 +0530 Tue, 01 Sep 2009 15:33:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16168 Valid jurisdiction could be conferred on the Assistant Commissioner under the Act to impose penalty for failure to deposit tax deducted at source within time. The penalty under section 221 was treated as distinct from the default covered by section 271C, because section 221 addresses non-deposit of deducted tax, not non-deduction. Subsequent payment of the tax, payment of interest, or financial hardship did not remove liability for penalty, and business loss was not a defence to the statutory obligation to remit deducted tax to the Central Government within the prescribed time. Case-Laws Income Tax Thu, 13 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16168