No Penalty for Failure to Deduct Tax: Entity Not an "Assessee-in-Default" u/ss 271C and 201 of Income Tax Act.

Penalty under section 271C - failure to deduct tax - assessee has not been treated as an "assessee-in-default" as per section 201 of the Act and is, therefore, neither liable to deduct nor pay any tax as per Chapter XVII-B nor any penalty imposed - AT .....

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