https://www.taxtmi.com/caselaws?id=424319 Penalty under section 271C was held unsustainable where tax deducted at source was remitted with interest before the penalty notice and the delay was attributable to severe financial hardship, accumulated losses, and borrowing constraints. The Tribunal applied the Full Bench view that section 273B extends to section 271C in full, so reasonable cause can be examined even for failure to remit deducted tax. On the facts, the delay was treated as a genuine financial difficulty rather than wilful default, and relief under section 273B was available. en-us Fri, 24 Jun 2022 00:00:00 +0530 Sun, 26 Jun 2022 22:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424319 Penalty under section 271C was held unsustainable where tax deducted at source was remitted with interest before the penalty notice and the delay was attributable to severe financial hardship, accumulated losses, and borrowing constraints. The Tribunal applied the Full Bench view that section 273B extends to section 271C in full, so reasonable cause can be examined even for failure to remit deducted tax. On the facts, the delay was treated as a genuine financial difficulty rather than wilful default, and relief under section 273B was available. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424319