9911796707
TMI Blog2016 (2) TMI 1079X X X X Extracts X X X X X X X X Extracts X X X X ..... es for imposition of penalty for failure to deliver copy of statement within time specified in subsection (3) of Section 200 of 100/- for every day. These sections also clearly lay down that the filing of quarterly statements is consequential to payment of taxes. The delayed payment of taxes itself is the reasonable cause for late filing of quarterly statement and hence the assessee is not exigible to the levy of penalty. When the assessee is paid the tax with interest and the TDS statements are already filed though belatedly, there is no loss to the Revenue, as held by Hon’ble Gujarat High Court in the case of Harsiddh Construction Pvt Ltd vs. CIT, (1999 (12) TMI 30 - GUJARAT High Court ). - Decided in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... A) of the Act provides for charging of interest, as laid down in the case of ACIT vs. Kamlesh Agarwal, reported in 99 ITD 27 (Ahd) (TM). When the assessee is paid the tax with interest and the TDS statements are already filed though belatedly, there is no loss to the Revenue, as held by Hon'ble Gujarat High Court in the case of Harsiddh Construction Pvt Ltd vs. CIT, reported in 244 ITR 417 (Guj). Similar view has been taken by the Co-ordinate Bench of this Tribunal in the case of GTPL Infonet Pvt Ltd vs. ACIT in ITA Nos.2582 & 2583/Ahd/2015, wherein the Tribunal has held as under:- 7. We have heard the rival submissions and perused the material on record. We find that the assessee had fully deposited the amount of TDS along with interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of sec.273B of the Act. Sec.273B of the Act lays down that the penalty shall not be imposed in respect of a default relating to the provisions mentioned therein if the person or the assessee concerned can show that there was a reasonable cause for default in question. Section 272A(2)(k) falls within the ambit of sec.273B of the Act. It is observed that the AO has levied the penalty in a routine manner without bringing the facts on record to establish that the appellant committed the default without a reasonable cause. The ld. CIT(A) has relied on the decision of Hon'ble Supreme Court in the case of Hindustan Steel Ltd. vs. State of Orissa (supra) and Hon'ble Gujarat High Court in the case of Harsiddh Construction (P) Ltd. vs. CI ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
