In the result, ITA No. 65/Agra/2017 is allowed, whereas ITA
Bench: Shri A. D. Jain
2. The AO levied penalty of Rs.4,25,420/- on the assessee u/s 271C of the IT Act, as the assessee had failed to deduct TDS on interest paid on FDRs and to deposit the same. The ld. CIT(A) has confirmed the penalty. I.T.A Nos. 65& 66/Agra/2017 3 3. The ld. Counsel for the assessee has contended that