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2007 (6) TMI 198 - HC - Income TaxNon deduction of TDS – assessee was under bona fide belief that tax is not required to be deducted - Tribunal has given a finding that there is a reasonable cause for not deducting the tax at source - Hence, the Tribunal is justified in deleting the penalty levied u/s 271C - concurrent finding given by both the authorities below are based on valid materials and evidence - whenever there is a concurrent finding by the authorities below, no interference should be called for by the High Court
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