https://www.taxtmi.com/caselaws?id=281790 The Appellate Tribunal ITAT Mumbai ruled in a group of appeals concerning delayed payment of taxes deducted at source and penalties under section 221(1). The Tribunal upheld the cancellation of penalties, citing that no penalty was applicable if the tax was paid before the penalty was levied, based on circulars issued by the Board. They emphasized that tax deduction is required only upon actual payment, not just upon crediting amounts to accounts. The Tribunal dismissed departmental appeals and allowed the assessee's appeal and cross-objections for the relevant years, emphasizing adherence to tax deduction laws and Board circulars. en-us Wed, 27 May 1981 00:00:00 +0530 Sat, 06 Jul 2019 17:40:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281790 The Appellate Tribunal ITAT Mumbai ruled in a group of appeals concerning delayed payment of taxes deducted at source and penalties under section 221(1). The Tribunal upheld the cancellation of penalties, citing that no penalty was applicable if the tax was paid before the penalty was levied, based on circulars issued by the Board. They emphasized that tax deduction is required only upon actual payment, not just upon crediting amounts to accounts. The Tribunal dismissed departmental appeals and allowed the assessee's appeal and cross-objections for the relevant years, emphasizing adherence to tax deduction laws and Board circulars. Case-Laws Income Tax Wed, 27 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281790