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TMI Blog2018 (6) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... overed by the bills was paid during the financial year and only the tax in respect thereof deposited in the subsequent year, the penalty was not attracted - thus in the present case no penalty is attracted. - ITA No. 61 of 2018 GA No. 3752 of 2014 - - - Dated:- 11-6-2018 - Sanjib Banerjee And Abhijit Gangopadhyay, JJ. Mr. J.P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. Mr. A. Samanta, Adv. Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the accounts were prepared. The assessee provided for a notional amount and showed such amount as expenditure. No tax was deducted nor was any TDS immediately deposited. After the close of the year, the relevant bills were received, payments were made upon deducting tax at source and the tax was credited in the appropriate account within the time permissible. The Assessing Officer held th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. In course of the assessee s appeal before the Commissioner (Appeals), the Commissioner noticed the submission on behalf of the assessee that in a similar situation where the bills had been raised late on the assessee and the amount covered by the bills was paid during the financial year and only the tax in respect thereof deposited in the subsequent year, the penalty was not attracted. The Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appropriate perspective, once it is seen that the tax was subsequently deducted at the time of payment and such tax was deposited within time, there would be no occasion to impose the penalty under such provision. Section 40(a)(i-a) of the Act makes it mandatory for tax to be deducted at source at the time of making certain payments which attract the rule; and, for such tax deducted to be depo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Tribunal is set aside and the order of the Commissioner (Appeals) passed on September 14, 2012 is restored in respect of the provision for commission and transportation amounting to a sum of ₹ 46 lakh. The other aspects of the order of the Appellate Tribunal are left untouched. ITA No. 61 of 2018 and GA No. 3752 of 2014 are disposed of. There will be no order as to costs. - - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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