https://www.taxtmi.com/caselaws?id=401728 The Tribunal ruled in favor of the appellant, setting aside the penalties under section 271C and demands under sections 201(1) and 201(1A) of the Income Tax Act. It concluded that the appellant could not be treated as in default for non-deduction of TDS on software purchases made before the relevant court ruling, considering the appellant's reasonable belief and the timing of judicial pronouncements. The Tribunal emphasized the significance of legal precedents and court decisions on tax liabilities, leading to the quashing of penalties and demands by the tax authorities. en-us Fri, 11 Dec 2020 00:00:00 +0530 Mon, 04 Nov 2024 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401728 The Tribunal ruled in favor of the appellant, setting aside the penalties under section 271C and demands under sections 201(1) and 201(1A) of the Income Tax Act. It concluded that the appellant could not be treated as in default for non-deduction of TDS on software purchases made before the relevant court ruling, considering the appellant's reasonable belief and the timing of judicial pronouncements. The Tribunal emphasized the significance of legal precedents and court decisions on tax liabilities, leading to the quashing of penalties and demands by the tax authorities. Case-Laws Income Tax Fri, 11 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401728