2011 (8) TMI 1163

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....eferred against the order of Income Tax Appellate Tribunal ("ITAT" for short) dated 22.01.2010, proposing following question of law for consideration of this Court. "Whether Appellate Tribunal is right in law and on facts in canceling the penalty of Rs. 7,42,707/levied under Section 271(1)(c) of the I.T.Act?" 2. To state briefly the facts for the Assessment Year 2006-07, when the Assessing O....

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....on examining the orders of adjudicating authorities, it can be seen that Tribunal was of the opinion that due to ignorance of the provision containing in Section 40(a)(ia) of the Act, the assessee did not deduct TDS from the payment made to labour, transport and carting expenses. The Tribunal was also actuated by the fact that the C.A. who audited the accounts of the assessee under Section 44 AB d....