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TMI Blog2018 (7) TMI 1473X X X X Extracts X X X X X X X X Extracts X X X X ..... paid and the assessee had also sent these Forms to the Income Tax Department. Not sending these Forms Specifically to CIT, TDS is a mere technical breach. Therefore, the Ld. CIT(A) has rightly held that assessee was not required to deduct TDS on interest so paid, hence, the demand raised by the AO was accordingly deleted, which does not need any interference on our part - decided in favour of the assessee. - I.T.A .No. 35 to 55 /DEL/2016 - - - Dated:- 18-7-2018 - SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Appellant by : Sh. Arun Kumar Yadav, Sr. DR Respondent by : Sh. Prashant Sharma, CA ORDER PER BENCH These appeals are filed by the Revenue against the common order dated 30/10/2015 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2013-14. The assessee bank has filed its TDS return under TAN: RTKT01617A which falls under the jurisdiction of the ITO (TDS), Gurgaon. TDS inspection has conducted on 7/11/2013 at the head office of the assessee by the DCIT, TDS Circle, Gurgaon. During the course of the inspection, from the records of the assessee it was found that various Branches of these bank have not deducted TDS u/s 194A on the amount of interest paid on term deposits which was required to be made in view of the decisions of the ITAT, Panji Bench. During the inspection, it was noticed by the Assessing Officer that the deductors had allowed substantial amount of interest to Primary Agricultural Societies and other Societies/Institution during the Financial Year 2012-13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment but not to the concerned CIT of Income Tax Department. In the assessment order, the Assessing Officer raised the demand holding that the assessee failed to furnish the documentary evidence in respect of submission of Form 15G/15H to concern CIT of the Income Tax Department as contemplated in Rule 29C. The CIT(A) held that the Forms were not submitted to CIT, TDS which is a mere technical breach so as to treat the assessee deemed to be in default attracting levy of demand as provided u/s 201 of Income Tax Act. Accordingly, the CIT(A) deleted the demand raised by the Assessing Officer. The appeal of the assessee was allowed by the CIT(A). 5. The Ld. DR relied upon the order of the Assessing Officer passed u/s 201(1) and 201(1A) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. CIT(A) has rightly followed the aforesaid decision and deleted the demand in dispute, which does not need any interference on our part, hence, we uphold the same and reject the ground no. 1 raised by the Revenue. 7.1 Apropos ground no. 2 relating to deletion of demand raised on account of short deduction of TDS of ₹ 16,686/- and interest thereon of ₹ 5,006/- with respet to cases where Form No. 15G/15H were not submitted to the CIT(TDS), Chandigarh on or before 7th day of the week, next following the month in which declaration is furnished to him is concerned, we note that as per the Assessment order the demand has been raised as the assessee had failed to furnish the documentary evidence in respect of submission of Form 15G/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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