Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (2) TMI 1020 - AT - Income TaxPenalty u/s 271(1)(c) - deduct tax at source u/s 194J - assessee company has suo motu deposited the tax deducted at source along with interest in the Government account to settle the dispute with the Revenue - HELD THAT:- We are of the considered view that when, in the undisputed facts and circumstances of the case, assessee company has voluntarily on its own deducted the tax and deposited the same with Government exchequer along with interest well prior to date of filing of income-tax return, it shows its bona fide creating a reasonable cause to be covered u/s. 273B of the Act, hence penalty imposed by the AO is not sustainable. So, finding no illegality or perversity in the impugned order passed by the ld. CIT(A), present appeal filed by the Revenue is hereby dismissed.
|