No Penalty Imposed: Reasonable Belief Supported by Notification and Orders Exempts Non-Deduction of TDS u/ss 271C & 194A.

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....Penalty u/s 271C - non deduction of tds u/s 194A - There was a reasonable cause for holding a belief regarding non deduction of tax at source on payment of interest made to Noida which is supported by a notification issued as well as several orders of the coordinate benches - No penalty - AT....