https://www.taxtmi.com/caselaws?id=306535 Penalty under section 271C of the Income-tax Act was not leviable where no order under section 201(1) had been passed treating the assessee as in default and the tax deducted at source was ultimately deposited, though belatedly. The provision applies to failure to deduct or failure to pay tax in the situations specifically covered by Chapter XVII-B, whereas the facts showed only delayed remittance and levy of interest under section 201(1A). In those circumstances, the consequence was confined to interest for delay, not penalty. The deletion of the penalty was therefore upheld. en-us Fri, 10 Jul 2015 00:00:00 +0530 Wed, 08 Feb 2023 07:32:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306535 Penalty under section 271C of the Income-tax Act was not leviable where no order under section 201(1) had been passed treating the assessee as in default and the tax deducted at source was ultimately deposited, though belatedly. The provision applies to failure to deduct or failure to pay tax in the situations specifically covered by Chapter XVII-B, whereas the facts showed only delayed remittance and levy of interest under section 201(1A). In those circumstances, the consequence was confined to interest for delay, not penalty. The deletion of the penalty was therefore upheld. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306535