https://www.taxtmi.com/caselaws?id=424319 The Tribunal allowed the appeal, deleting the penalty of Rs. 9,12,060 imposed under section 271C of the Income Tax Act. The delay in remitting TDS was attributed to severe financial hardships faced by the assessee, who had paid the entire TDS amount with interest before the penalty notice. The Tribunal considered the Full Bench judgment, which clarified the limited application of penalties under section 271C, and concluded that the penalty was not justified in this case due to the assessee's financial difficulties and compliance efforts. 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 The Tribunal allowed the appeal, deleting the penalty of Rs. 9,12,060 imposed under section 271C of the Income Tax Act. The delay in remitting TDS was attributed to severe financial hardships faced by the assessee, who had paid the entire TDS amount with interest before the penalty notice. The Tribunal considered the Full Bench judgment, which clarified the limited application of penalties under section 271C, and concluded that the penalty was not justified in this case due to the assessee's financial difficulties and compliance efforts. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424319