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TMI Blog2019 (9) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... prejudice to the Revenue as further income-tax of ₹ 5,00,000/- was deducted at source by employer Pace u/s 192 on behalf of assessee on additional salary income of ₹ 16,63,897/- paid to assessee on 24.09.2013 for impugned ay: 2013-14 within provisions of Section 192 Revised statement of income-tax deducted at source u/s 192 of the 1961 Act in quarterly returns filed with Revenue in Form No. 24Q wherein all the information pertaining to additional salary of ₹ 16,63,897/- and additional TDS paid of ₹ 5,00,000/- stood disclosed to Revenue. - Decided in favour of assessee - I.T.A. No. 1215/Mum/2018 - - - Dated:- 5-9-2019 - Shri C.N. Prasad, Judicial Member And Shri Ramit Kochar, Accountant Member ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377; 15,00,000/- was paid to the assessee and income-tax was deducted at source on the said salary of ₹ 3,00,000/-. The said Form No. 16 is placed in paper book filed by assessee with tribunal .The assessee based on aforesaid Form No. 16 filed return of income with Revenue. The said company also filed Statement of income-tax deducted at source on salaries in Form No. 24Q wherein assessee salaries were shown to be ₹ 15,00,000/- and income-tax was deducted at source to be ₹ 3,00,000/- on behalf of the assessee by Pace . Later revised certificate in Form No. 16 dated 19.12.2013 was issued by said employer Pace stating that total salary income of the assessee to be ₹ 31,63,897/- including additional salary income of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 61 Act was levied by the AO against assessee to the tune of ₹ 5,14,145/- as at the time of filing of return of income on 27.03.2014, the assessee was having details of additional salary and TDS as well the assessee was in possession of new TDS certificate in form no. 16. The said additional salary as well additional TDS was duly reflected in Form no. 26AS by the time assessee filed its return of income in the month of March 2014. Thus, the assessee based on old TDS certificate in form no. 16 filed its return of income. However, it is an admitted position that the assessee did not declare additional salary of ₹ 16,63,897/- nor claimed additional TDS of ₹ 5,00,000/- while filing its original return of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 3,00,000/- on behalf of the assessee u/s 192 of the 1961 Act . Later revised certificate in Form No. 16 dated 19.12.2013 was issued by said employer Pace stating that total salary income of the assessee to be ₹ 31,63,897/- including additional salary of ₹ 16,63,897/- and income-tax deducted at source of ₹ 8,00,000/- u/s 192 of the 1961 Act. The said company Pace also revised its statement of TDS in form no. 24Q on 29.11.2013 showing revised salary of ₹ 31,63,897/- and TDS of ₹ 8,00,000/- . The said company paid additional salary to assessee of ₹ 16,63,897/- on which additional income-tax was deducted at source of ₹ 5,00,000/- on 24.09.2013 u/s 192 of the 1961 Act. Thereafter, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o additional salary of ₹ 16,63,897/- and additional TDS paid of ₹ 5,00,000/- stood disclosed to Revenue. The assessee never made an attempt to claim entire TDS of ₹ 8,00,000 deducted by Pace while on the other hand declaring initial salary of ₹ 15,00,000/- rather it only claimed credit of TDS of ₹ 3,00,000/- in return of income filed with Revenue on 27.3.2014. This showed bonafide of the assessee and it is a case of bonafide and genuine error on the part of the assessee while filing of its return of income in the month of March 2014 and once the said error came to notice of the assessee when assessment proceedings were started by the AO, it immediately filed revised computation of income declaring additional sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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