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2020 (3) TMI 118 - AT - Income TaxPenalty levied u/s 271C - Non deducting TDS on the LTC payments made towards foreign travel - HELD THAT:- As relying on STATE BANK OF INDIA VERSUS THE ACIT (TDS) , JAIPUR [2019 (1) TMI 145 - ITAT JAIPUR] we hold that there is a reasonable cause on the part of the assessee in not deducting TDS on the LTC payments made towards foreign travel. Accordingly we hold that penalty u/s 271C is not sustainable. Accordingly we set aside the order passed by the ld CIT(A) and direct the AO to delete the penalty levied u/s 271C of the Act for the year under consideration. - Appeal filed by the assessee is allowed.
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