https://www.taxtmi.com/caselaws?id=285255 The Tribunal dismissed the Revenue's appeal, upholding the CIT (Appeals) decision to delete the penalty under section 271CA of the Income Tax Act. The Tribunal found that the assessee had a reasonable cause for not collecting tax at source on the sale of scrap, as taxes had been paid by the buyers, causing no loss to the exchequer. The decision was based on the belief held by the assessee and the absence of categorical proof that the goods sold were scrap. en-us Fri, 19 May 2017 00:00:00 +0530 Sun, 05 Jan 2020 09:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285255 The Tribunal dismissed the Revenue's appeal, upholding the CIT (Appeals) decision to delete the penalty under section 271CA of the Income Tax Act. The Tribunal found that the assessee had a reasonable cause for not collecting tax at source on the sale of scrap, as taxes had been paid by the buyers, causing no loss to the exchequer. The decision was based on the belief held by the assessee and the absence of categorical proof that the goods sold were scrap. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285255