Ex-Parte Section 271C Penalty order : ITAT grants another opportunity

Oriental Bank of Commerce Vs JCIT (ITAT Jaipur) Introduction: The case of Oriental Bank of Commerce vs. JCIT (ITAT Jaipur) involves an ex-parte penalty decision by the Income Tax Appellate Tribunal (ITAT). This article delves into the details of the order, examining the grounds of appeal raised by the assessee and the subsequent legal proceedings. Detailed Analysis: 1. Background: The appellant, Oriental Bank of Commerce, faced penalties under section 271C of the IT Act for non/short deduction of TDS under section 194A. The Assessing Officer (AO) imposed a substantial penalty of Rs. 2,67,763/-...