2017 (1) TMI 1632

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..... o deliberate intention of delaying the submission of TDS returns. This shows the bonafide of the assessee in complying with the provisions of law. Late filing of TDS returns is a technical default. One should not be penalized for technical default. There was only a technical and venial breach of the provision contained in rule 31A of the I.T. Rules, 1962, requiring the assessee to submit quarterly statements of deduction of tax under section 200(3) within the time prescribed. Such delay had not caused any loss to the Revenue. The Tribunal in Rajasthan Tribal Area Development Co–Op. Federation Ltd. v/s ITO (1997 (4) TMI 123 - ITAT JAIPUR) held that for mere failure to furnish TDS returns, penalty was not justified as there was no defau .....

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..... assessment year. The assessee has filed letters with the Assessing Officer on 3rd August 2011, 16th August 2011 and 30th November 2011 giving reasons for the delay in filing the TDS statements and requesting him that a lenient view be taken in this matter and the delay in filing the quarterly TDS statements be condoned. However, the Assessing Officer did not agree with the assessee and levied penalty under section 272A(2)(k) for delay in filing of TDS returns. 3. By the impugned order, learned CIT(A) confirmed the action of the Assessing Officer against which the assessee is in further appeal before us. 4. We have considered the submissions of the parties and perused the material available on record. We find that there was a reasonabl .....

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..... in Punjab National Bank v/s ACIT, [2011] 140 TTJ 622 : 16 taxmann.com 318 (Lucknow), held that non filing of quarterly statements does not involve any revenue loss and is a mere technical default. Even otherwise, there was only a technical and venial breach of the provision contained in rule 31A of the I.T. Rules, 1962, requiring the assessee to submit quarterly statements of deduction of tax under section 200(3) within the time prescribed. Such delay had not caused any loss to the Revenue. The Tribunal, Jaipur Bench, in Rajasthan Tribal Area Development Co Op. Federation Ltd. v/s ITO, 60 TTJ 427 (Jai.) held that for mere failure to furnish TDS returns, penalty was not justified as there was no default in deducting tax at source or in depos .....

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