Bank Not Penalized u/s 271C for TDS Non-Deduction Due to Good Faith Reliance on Form 15G/15H.

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....Penalty imposed u/s 271C - non-deduction of TDS on submission of Form No. 15G/15H - where the assessee bank has relied on the declaration so furnished by the customer, there is no malafide which is reflected in the action of the assessee bank in not deducting the TDS and the assessee bank cannot be fastened with the penalty u/s 271C.....