No section 271C penalty for TDS Non-Deduction if Form 15G & 15H submitted

Unity Dye Chem Pvt. Ltd. Sokhada Vs CIT (ITAT Ahmedabad)

Introduction: The case of “Unity Dye Chem Pvt. Ltd. vs CIT” involves an appeal to the ITAT Ahmedabad against the imposition of a penalty under section 271C for non-deduction of TDS. The key contention is whether the submission of Form 15G and 15H can exempt the assessee from the penalty.

Analysis: The appellant was penalized under section 271C for not deducting TDS on interest payments to

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