High Court of Karnataka Dismisses Revenue's Appeal in TDS Penalty Case — No Reasonable Cause for Penalty Under Section 271C When Assessee Acted on Professional Advice. Penalty under Section 271C of Income Tax Act, 1961 cannot be levied when assessee had reasonable cause for non-deduction of TDS based on professional advice that no income deemed to accrue in India.
3 Feb 2025The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT), Beng...
