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2004 (12) TMI 61 - HC - Income TaxPenalty for Non depositing/deducting the TDS - if we examine the explanation offered by the Board/assessee for not depositing/deducting the tax deducted at source from the particular class of consumers. In our view, the explanation was bona fide and deserves to be accepted. In no case, was it a case of deliberate concealment or was done with a view to evade payment of tax and putting the Revenue to loss - Tribunal was justified in deleting the penalty levied under section 271C
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