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TMI Blog2017 (7) TMI 922X X X X Extracts X X X X X X X X Extracts X X X X ..... spute as to whether NOIDA is a Corporation exempt from liability of deduction of tax at source there was a reasonable cause for the respondent assessee not to deduct the tax at source. In the case of Commissioner of Income Tax (TDS) Vs. G.M. (Telecom) BSNL [2014 (2) TMI 800 - ALLAHABAD HIGH COURT] the assessee was under a bonafide believe that tax was not liable to be deducted on commission/trade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ithal And Hon'ble Umesh Chandra Tripathi, JJ. For the Appellant : 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 substa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udgment and order dated 4.4.2016 has held that NOIDA 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 impositi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to be deducted on commission/trade discount 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 responden ..... X X X X Extracts X X X X X X X X Extracts X X X X
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