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TMI Blog2020 (1) TMI 1051X X X X Extracts X X X X X X X X Extracts X X X X ..... rking and this also not the first time scheme for filing return. TDS has been deducted and paid to the Government but in case of refund the exchequer suffers loss by way of interest on refund which has paid by the Income Tax Department to the deductee. The assessee could have asked to his employees to furnish their PAN by way of in writing so that it can be considered that there was a reasonable cause for not filing of PAN by the deductee, however, no such instance has been provided by the ld. AR of the assessee before us. The assessee was also not prevented by any reasonable cause for delay in filing the 24Q 26Q statements as required by the Act for all the quarters in a financial year. Quarterly filing TDS return has been introduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in ITA No.220/CTK/2019 for the Financial Year 2007-2008 relevant to assessment year 2008-2009 for deciding all the appeals. 3. The sole issue involved in all the appeals is relating to confirming the penalty imposed by the AO u/s.272A(2)(k) of the Act. 4. Brief facts of the case are that the assessee filed the quarterly statements of TDS in Form Nos.24Q and 26Q of different quarters for the financial year 2007-2008. Since there was no reasonable explanation for huge delay in filing the 24Q and 26Q statements, the JCIT(TDS) concluded that the penalty u/s.272A(2)(k) of the Act is leviable in the case of the assessee. Accordingly, the AO levied penalty for the Financial Year 2007-2008 relevant to assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .07.2012 1659 Days 7,53,649 1,65,900 24Q 2007-08 4th 6/15/2008 31.07.2012 1507 Days 1,693,008 1,50,700 26Q 2007-08 1st 7/15/2007 31/07/2012 1843 Days 0 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r non-filing quarterly TDS with the NSDL in appropriate form due to non-availability of the PAN of the deductee. The assessee is a public sector undertaking and there was no mens rea involved on this issue and the tax was duly deducted by the assessee and it was also deposited in the Government treasury within the stipulated time and, therefore, there is no loss to the exchequer. Therefore, the assessee should get immunity as per the provisions of Section 273B of the Act. In support of his arguments, he relied on the judgment of the coordinate bench of the Tribunal in the case of Director, Printing, Stationery Publication Vs. Adl.CIT(TDS), ITA No.111/CTK/2013 and other connected appeals, dated 11.03.2013. 8. On the other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time with the prescribed authority. We understand that the MCL is a big company wherein tax experts are also working and this also not the first time scheme for filing return. TDS has been deducted and paid to the Government but in case of refund the exchequer suffers loss by way of interest on refund which has paid by the Income Tax Department to the deductee. The assessee could have asked to his employees to furnish their PAN by way of in writing so that it can be considered that there was a reasonable cause for not filing of PAN by the deductee, however, no such instance has been provided by the ld. AR of the assessee before us. The assessee was also not prevented by any reasonable cause for delay in filing the 24Q 26Q statements a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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