No penalty for deduction of TDS at Lower Rate under wrong section

Jitendra Sharma Vs JCIT (Intl Taxation) (ITAT Indore) ITAT Indore held that no penalty under Section 271C to be levied for deduction of tax under Section 194IA @1% instead of Section 195 @ 20.6% on purchase of property from Non Resident. FULL TEXT OF THE ITAT JUDGEMENT The above captioned appeals filed at the instances of the assessee(s) pertaining to Assessment Year 2015-16 are directed against the orders of Ld. Commissioner of Income Tax (Appeals)-13 (in short ‘Ld.CIT(A)’], Ahmedabad dated 24.04.2018 which are arising out of the order u/s 271C of the Income Tax Act 1961(In short the ‘A...