2009 (8) TMI 643

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..... e Act. The stand of the assessee was that it was under bona fide belief that tax deducted at source certificates were to be issued and submitted with the annual return. The Commissioner (Appeals) accepted the explanation of the assessee and deleted the penalty. it also affirmed by Tribunal. Held that- the basis for imposing penalty was a mere technical violation and having regard to facts and circ .....

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..... no loss of revenue and the fault committed by the assessee is only of technical and venial in the nature? (ii) Whether on the facts and circumstances of the case, the learned Income-tax Appellate Tribunal is right in law in deleting the penalty ignoring the mandatory provisions of section 272A(2)(g) wherein the legislature has used the word `shall'?" 2. The assessee is a Department of the Har .....

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..... issions. We find that the tax was properly deducted and paid in time in the treasury. Thus, the Revenue did not suffer in any manner in so far as collection of tax is concerned. There were delays in issuing certificates to the payees, for which a satisfactory explanation has been furnished. The payee has not raised any grievance in this matter. Therefore, the default, if any, is technical and veni .....

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