No concealment penalty if assessee had bona fide belief that LTA payment made to employee was exempt form TDS

INCOME TAX : Where Assessing Officer passed a penalty order under section 271C on account of assessee's failure to deduct tax at source while making payment of Leave Travel Allowance (LTA) to its employees, in view of fact that assessee was under a bona fide belief that in case employees's final destination was in India, irrespective of fact that en-route journey was out of India, LTA was exempt and thus, did not require TDS, impugned penalty order was to be set aside

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