https://www.taxtmi.com/caselaws?id=415629 The ITAT allowed the Assessee's appeal regarding the levy of penalty under Section 271A(2)(g) of the Income Tax Act for non-compliance with TDS provisions. The Assessee's explanation of financial crisis causing the delay in TDS compliance was accepted by the ITAT, noting that the delay was justified due to financial constraints. As the Assessee had paid the TDS amount with interest and provided a reasonable explanation that was not refuted by the Revenue authorities, the ITAT ruled in favor of the Assessee, citing Section 273B of the Act. en-us Fri, 22 Oct 2021 00:00:00 +0530 Fri, 10 Dec 2021 08:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415629 The ITAT allowed the Assessee's appeal regarding the levy of penalty under Section 271A(2)(g) of the Income Tax Act for non-compliance with TDS provisions. The Assessee's explanation of financial crisis causing the delay in TDS compliance was accepted by the ITAT, noting that the delay was justified due to financial constraints. As the Assessee had paid the TDS amount with interest and provided a reasonable explanation that was not refuted by the Revenue authorities, the ITAT ruled in favor of the Assessee, citing Section 273B of the Act. Case-Laws Income Tax Fri, 22 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415629