https://www.taxtmi.com/caselaws?id=773415 ITAT Lucknow dismissed the assessee's appeal against penalty under section 271C for failure to deduct tax at source on LTC/LFC reimbursements for employees' foreign travel. The tribunal held that the assessee, a leading corporate entity, failed to establish reasonable cause under section 273B for non-deduction of TDS. The plea of bonafide belief that tax was not deductible was rejected, as the assessee had adequate intellectual resources and could have obtained proper guidance. The penalty was confirmed. en-us Thu, 24 Apr 2025 00:00:00 +0530 Mon, 23 Jun 2025 08:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773415 ITAT Lucknow dismissed the assessee's appeal against penalty under section 271C for failure to deduct tax at source on LTC/LFC reimbursements for employees' foreign travel. The tribunal held that the assessee, a leading corporate entity, failed to establish reasonable cause under section 273B for non-deduction of TDS. The plea of bonafide belief that tax was not deductible was rejected, as the assessee had adequate intellectual resources and could have obtained proper guidance. The penalty was confirmed. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773415