2017 (7) TMI 922

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....lant : Gaurav Mahajan For the Respondent : Abhishek Tandon ORDER In all these appeals a common order of the Income Tax Appellate Tribunal dated 8.1.2016 has been challenged in so far as the tribunal has deleted the penalty imposed under Section 271 C of the Income Tax Act, 1961 (hereinafter referred to as the Act). The only substantial question of law which has been raised in these app....

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....DA is a corporation established by the U.P. Industrial Development Act, 1976 therefore is exempt from payment of tax at source. In view of the above decision, the respondent assessee was not supposed to deduct any tax at source on the deposits made by the NOIDA and when no such tax was deductable at source, the question of its payment and imposition of penalty does not arise. Further, Sectio....

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....unt in view of decision in Idea Cellular Ltd. Vs. DCIT (2009) 121 TTJ (Del) 352. The Division Bench of this Court held that it was a reasonable cause for failure to deduct tax. This exactly is the position in the case at hand. Accordingly, even in the light of the provisions of Section 273 B of the Act no penalty could have been imposed upon the respondent assessee under Section 271 C of the Ac....