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2016 (3) TMI 1299 - AT - Income TaxPenalty u/s.271CA - default u/s.206C - additions made u/s.206C(1) on account of non collection of TCS on sale of scrap - Held that:- CIT(A) after relying upon the decision of M/s. Bharti Auto Products [2013 (9) TMI 274 - ITAT RAJKOT] has held that the late submission of Form No.27C and 27BA does not make assessee in default. Since the assessee has not been treated as assessee in default u/s.206C(6) and 206C(7), the question of penalty does not arise. Before us, Revenue has not brought on record any contrary binding decision in its support. - Decided against revenue.
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