https://www.taxtmi.com/caselaws?id=772509 ITAT Lucknow dismissed the assessee bank's appeal against demand under sections 201(1) and 201(1A) for failure to deduct TDS on LFC reimbursements for employees' foreign travel. The tribunal held that the assessee's plea of bonafide belief that TDS was not required cannot constitute reasonable cause under section 273B. Being a leading corporate entity with adequate intellectual resources, the assessee should have exercised due diligence. The tribunal confirmed CIT(A)'s order upholding the TDS demand. en-us Mon, 28 Apr 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772509 ITAT Lucknow dismissed the assessee bank's appeal against demand under sections 201(1) and 201(1A) for failure to deduct TDS on LFC reimbursements for employees' foreign travel. The tribunal held that the assessee's plea of bonafide belief that TDS was not required cannot constitute reasonable cause under section 273B. Being a leading corporate entity with adequate intellectual resources, the assessee should have exercised due diligence. The tribunal confirmed CIT(A)'s order upholding the TDS demand. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772509