No section 271C penalty for non-deduction of TDS on LTA

State Bank of India Vs  Addl. CIT (ITAT Bangalore)

The issue under consideration is whether the AO is correct in levying penalty u/s 271C of the Act for non-deduction of tax at source (TDS) on Leave Travel Allowance (LTA)?

In the present case, assessee is a banking institution and the survey under section 130A of the Act was conducted to verify compliance of TDS. During the course of survey, AO noticed that, assessee paid reimbursement of leave travel concession to its em

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