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2015 (3) TMI 1369 - AT - Income TaxLevying penalty u/s. 271C - assessee had not deducted TDS from the payments made to the State Bank of India as MICR charges during the relevant year u/s.194J - HELD THAT:- Since tax has already been paid by the payee, no penalty could be levied on assessee-payer for failure to deduct tax at source as held by the ITAT Bangalore Bench rendered in the case of Wipro GE Medical Systems Ltd. vs. ITO [2005 (1) TMI 609 - ITAT BANGALORE]. In view of the above, penalties levied by the authorities below u/s.271C are directed to be deleted in all the four years as these pertain to same issue.- Decided in favour of assessee.
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