No Penalty for Failure to Collect TCS: Reasonable Cause Accepted u/s 273B, Supported by Legal Opinion.

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....Penalty u/s 271C - failure to collect TCS - reasonable cause - "assessee in default” - assessee has submitted the extant legal opinion of an Advocate of Hon’ble Supreme Court who had opined that the assessee was not liable to collect the TCS on the items it dealt with - the assessee’s case falls under the ambit of section 273B - No penalty - AT....