https://www.taxtmi.com/caselaws?id=405912 The Court, following a Full Bench judgment, ruled in favor of the appellant, finding that the penalty imposed for delayed deposit of TDS was not warranted. The Court clarified that the appellant's explanation fell within the scope of Sec.273B of the Income Tax Act, distinguishing it from cases covered by Sec.271C(1)(a). The Full Bench decision emphasized that the benefit of Sec.273B can be claimed even in cases of failure to remit tax deducted at source. As a result, the penalty was deemed inapplicable, the impugned orders were set aside, and the appeals were allowed with no costs imposed. en-us Tue, 23 Mar 2021 00:00:00 +0530 Wed, 31 Mar 2021 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405912 The Court, following a Full Bench judgment, ruled in favor of the appellant, finding that the penalty imposed for delayed deposit of TDS was not warranted. The Court clarified that the appellant's explanation fell within the scope of Sec.273B of the Income Tax Act, distinguishing it from cases covered by Sec.271C(1)(a). The Full Bench decision emphasized that the benefit of Sec.273B can be claimed even in cases of failure to remit tax deducted at source. As a result, the penalty was deemed inapplicable, the impugned orders were set aside, and the appeals were allowed with no costs imposed. Case-Laws Income Tax Tue, 23 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405912