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2018 (12) TMI 119 - AT - Income TaxPenalty u/s 271C - Bona fide reasons for not deducting TDS - Held that:- From the perusal of the Section 271C, if there is a failure to deduct tax at source then such person is liable to pay the penalty under this section. Merely being under bonafide belief that the tax was not deducted at source will not be a ground for exonerating the assessee from the provisions of this section. The case laws referred by the Ld. AR will also not be applicable in case of assessee as the same are on different footing and facts. Therefore, we are not inclined to interfere with the findings of the CIT(A). Hence, appeal of the assessee is dismissed.
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