https://www.taxtmi.com/highlights?id=51144 Penalty u/s 221 - failure to deposit the TDS amount with the Govt. - In fact, a clear finding has been recorded by the tribunal that question of financial stringency pleaded by assessee was not proved. Even otherwise, it has been held that financial stringency would not justify the non-remittance of TDS to the Government, in as much as, it would amount to utilization of money payable to the appropriate government. - Levy of penalty confirmed. en-us Fri, 10 Jan 2020 06:56:21 +0530 Fri, 10 Jan 2020 06:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51144 Penalty u/s 221 - failure to deposit the TDS amount with the Govt. - In fact, a clear finding has been recorded by the tribunal that question of financial stringency pleaded by assessee was not proved. Even otherwise, it has been held that financial stringency would not justify the non-remittance of TDS to the Government, in as much as, it would amount to utilization of money payable to the appropriate government. - Levy of penalty confirmed. Highlights Income Tax Fri, 10 Jan 2020 06:56:21 +0530 https://www.taxtmi.com/highlights?id=51144