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2019 (8) TMI 848 - ITAT BANGALOREValidity of penalty u/s. 271-C - LTA exemption for TDS under head salary - High Court has admitted the question whether the Assessee is guilty of non deduction of tax at source or not - debatable issue - HELD THAT:- As decided in SYNDICATE BANK, NGV KORAMANGALA AND ORS VERSUS ACIT (TDS) [2019 (7) TMI 1266 - ITAT BANGALORE] admission of substantial questions of law by the High Court leads credence to the bona fide of the assessee and therefore, the penalty is not exigible u/s 271(1)(c). Merely because the claim of the assessee has been rejected by the revenue authorities would not make the assessee liable for penalty - levy of penalty u/s.271C of the Act, in the given facts and circumstances of the case, cannot be sustained and the same is directed to be deleted. - Decided in favour of assessee.
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