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Commissioner of Income Tax (TDS) , Lucknow Versus M/s PVR Ltd.

2017 (2) TMI 555 - ALLAHABAD HIGH COURT

Penalty under Section 271C - non deduction of tds - assessee in default - Held that:- It is not in dispute that Assessee did not deduct interest and the reason given by Assessee was that in respect to Sahara premises, there was a revenue sharing agre .....

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it to be a bonafide belief, though erroneous, and held that in view of fact that default was for bonafide belief, penalty under Section 271C of Act 1961 was not justified. - It is not disputed before us that under Section 201(1A) interest for del .....

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dings are perverse, incorrect or otherwise illegal, we therefore, find no reason to interfere. - Decided in favour of Assessee. - Income Tax Appeal No. 59, 60, 61, 62 of 2016 - Dated:- 18-1-2017 - Hon'ble Sudhir Agarwal And Hon'ble Ravindra N .....

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Income Tax Act, 1961 (hereinafter referred to as "Act 1961"), by Revenue have arisen from judgment and order dated 18.12.2015 and 10.07.2015 passed by Income Tax Appellate Tribunal, Lucknow Bench ''B' Lucknow (hereinafter refer .....

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g the revenue's ground of appeal that there was no reasonable cause as provided in Section 273-B of the Act for the failure by the deductor company to deduct tax at source under Section 194-I of the Act in respect of rent paid by it to the deduct .....

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here was reasonable cause for failure to deduct tax at source despite the fact that the supplementary agreement made on 23.11.2006 clearly described the nature of payments as monthly fee/rental." 3. It is not in dispute that Assessee did not ded .....

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f Income Tax (Appeals) (hereinafter referred to as "CIT(A)') accepted aforesaid explanation given by Assessee holding it to be a bonafide belief, though erroneous, and held that in view of fact that default was for bonafide belief, penalty u .....

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ed tax at source in respect of other premises taken on rent and the non-deduction of tax in respect of Sahara Ganj premises can be attributed to a bona fide belief that there was no liability to deduct tax at source on account of the revenue sharing .....

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