https://www.taxtmi.com/caselaws?id=60656 The tribunal partially allowed the appeals, reducing the penalties imposed under section 221 while affirming the assessee's liability for the delay in TDS payment. It emphasized that the payment of interest under section 201(1A) does not absolve the assessee from penalty under section 221. The tribunal rejected arguments of financial crisis and the mode of payment as justifications for the delay, ultimately reducing the penalties imposed by the Assessing Officer due to voluntary TDS payment and a minimal delay of 27 days. en-us Fri, 24 Aug 2001 00:00:00 +0530 Fri, 07 Jan 2011 14:13:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60656 The tribunal partially allowed the appeals, reducing the penalties imposed under section 221 while affirming the assessee's liability for the delay in TDS payment. It emphasized that the payment of interest under section 201(1A) does not absolve the assessee from penalty under section 221. The tribunal rejected arguments of financial crisis and the mode of payment as justifications for the delay, ultimately reducing the penalties imposed by the Assessing Officer due to voluntary TDS payment and a minimal delay of 27 days. Case-Laws Income Tax Fri, 24 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60656