Section 271C penalty not leviable for non-deduction of TDS on Provisions

ACIT Vs Parsons Brinckershoff India Pvt. Ltd (ITAT Delhi) We find the JCIT in the instant case levied penalty of Rs.98,92,242/- u/s 271C on the ground that the assessee has not deducted TDS on certain expenses for which provision of Rs.9,92,66459/- was created in its books of account. We find the Ld. CIT(A) deleted the penalty levied by the JCIT u/s 271C of the Act, the reasons of which have already been reproduced in the preceding paragraph. We do not find any infirmity in the order of the Ld. CIT(A) on this issue. The assessee during the course of hearing of penalty proceedings before the JC...