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TMI Blog2012 (4) TMI 547X X X X Extracts X X X X X X X X Extracts X X X X ..... made, but deposited beyond the time specified. In the circumstances, we interfere with the judgments and orders of the Tribunal under revisions and set aside the same and, remit back the matter to the Tribunal for consideration whether penalty is at all leviable in case where deductions made have been deposited, but belatedly and, if so, whether penalty imposable for such a crime can be equated with the crime of not deducting or with not depositing after deduction; as well as what should be the rational penalty to be imposed for delay in depositing deducted tax with reasons in support thereof X X X X Extracts X X X X X X X X Extracts X X X X ..... pecified, imposed penalty to the extent of twice the amount of the tax deducted. The appellate authority for some reasons recorded, reduced the penalty to the tune of ten per cent of the deducted tax. The Revenue as well as the revisionists approached the Tribunal. The appeals preferred by the revisionists have been rejected, whereas appeals preferred by the Revenue have been allowed. The Tribunal while allowing the appeals of the Revenue recorded identical finding, one of which is as follows: "The contractee-Department in year 2005-06 for the period from April 1, 2005 to September 30, 2005 has deposited the amount of TDS against the consideration paid to the contractors for the months from April, 2005 to September, 2005 with delay of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, penalty is leviable in two circumstances, namely, that when no tax is deducted or when tax is deducted and not deposited. It is being contended that a look at the law made by the legislators would amply make it clear that, if deduction is made and the same is deposited, no penalty is leviable inasmuch as, there is a separate provision for deposit of interest. It was next contended that, assuming penalty is leviable in case where deducted tax has been deposited beyond the due date, the crime thus committed cannot be equated with that of the crime of not deducting tax or with the crime of deducting tax and not depositing the same. It was contended that, in case when deduction is made and the same is deposited, if a penalty is leviable ther ..... X X X X Extracts X X X X X X X X Extracts X X X X
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