Supreme Court Allows Appeals in TDS Penalty Case — Failure to Deposit TDS Not Attracting Penalty Under Section 271C if Reasonable Cause Shown. Belated Remittance of TDS Due to Financial Constraints and Bona Fide Belief Constitutes Reasonable Cause Under Section 273B of Income Tax Act, 1961.
10 Apr 2023The appeals arose from a common judgment of the Kerala High Court confirming the levy of penalty under Section 271C of the Income Tax Act, 1961 on the...
