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2016 (4) TMI 1044 - AT - Income TaxPenalty levied u/s 271C - non TDS u/s 194H on commission/discount/handling charges paid to sub agents - Held that:- . CIT(A) considered the submissions, reasons and the explanation of the assessee and then noted that the sale in respect of which commission was payable did not materialize and the commissions was also written back. The ld. CIT(A) also observed this fact that the assessee has already paid the TDS and interest thereon and respective party accounts were debited by the said amounts as no commission was paid to them and the TDS refund received by them [payee sub agents/brokers] was undue benefit enjoyed by them. After noticing above mentioned facts, on careful consideration of submissions of the assessee the ld. CIT(A) rightly held that imposition of penalty u/s 271(C) of the Act is not justified. - Decided in favour of assessee
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