https://www.taxtmi.com/caselaws?id=307694 The Tribunal dismissed the appeal against the penalty under section 271C of the Income Tax Act for non-deduction of tax on payments made for External Development Charges to HUDA. Relying on precedents and considering the absence of a statutory or contractual liability towards HUDA, the Tribunal emphasized the bonafide belief of the assessee and the lack of contumacious conduct, leading to the deletion of the penalty. The appeal was allowed, setting aside the impugned orders related to the penalty based on the interpretation of legal provisions and precedents. en-us Thu, 08 Sep 2022 00:00:00 +0530 Sat, 29 Apr 2023 20:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307694 The Tribunal dismissed the appeal against the penalty under section 271C of the Income Tax Act for non-deduction of tax on payments made for External Development Charges to HUDA. Relying on precedents and considering the absence of a statutory or contractual liability towards HUDA, the Tribunal emphasized the bonafide belief of the assessee and the lack of contumacious conduct, leading to the deletion of the penalty. The appeal was allowed, setting aside the impugned orders related to the penalty based on the interpretation of legal provisions and precedents. Case-Laws Income Tax Thu, 08 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307694