https://www.taxtmi.com/caselaws?id=410570 The Tribunal allowed the appeal, ruling in favor of the appellant and setting aside the penalty imposed under section 271C of the Income Tax Act, 1961. The decision emphasized the importance of statutory compliance, distinguishing between failure to deduct Tax Deducted at Source (TDS) and failure to deposit it. The Tribunal considered the TDS was deducted but not deposited in time, concluding that the penalty was not applicable. The reversal of previous judgments by the Kerala High Court supported the appellant's position, leading to the favorable outcome of the case. en-us Wed, 23 Jun 2021 00:00:00 +0530 Thu, 05 Aug 2021 08:43:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410570 The Tribunal allowed the appeal, ruling in favor of the appellant and setting aside the penalty imposed under section 271C of the Income Tax Act, 1961. The decision emphasized the importance of statutory compliance, distinguishing between failure to deduct Tax Deducted at Source (TDS) and failure to deposit it. The Tribunal considered the TDS was deducted but not deposited in time, concluding that the penalty was not applicable. The reversal of previous judgments by the Kerala High Court supported the appellant's position, leading to the favorable outcome of the case. Case-Laws Income Tax Wed, 23 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410570