2021 (8) TMI 218

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..... would only amount to technical venial breach committed by the assessee. The very purpose of filing of quarterly TDS returns within time is only to ensure that the deductees are given due credit of TDS in their respective returns of income. In the instant case, the assessee had also submitted before the CIT(A) that deductees had indeed claimed credit for TDS in their returns of income. We hold t .....

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..... ed:- 2-8-2021 - M. Balaganesh , Member ( A ) And Pavan Kumar Gadale , Member ( J ) Assessee by : None Revenue by : Shri T. S. Khalsa ORDER Per M. Balaganesh ( A M ) This appeal in ITA No. 3601/Mum/2018 for A.Y. 2009-10 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-2, Pune in appeal No. PN/CIT(A)-2/ACIT TDS/THN/64/2017-18 dated 19/01/2018 (ld. CIT( .....

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..... ails of tax deducted by the assessee for each quarter in respect of various expenditures and date of filing quarterly TDS returns thereon are tabulated both by the ld. AO as well as by the ld. CIT(A) in their respective orders. Since, there was considerable delay in filing of TDS returns by the assessee, the ld. AO proceeded to levy penalty u/s. 272A(2)(k) of the Act in the sum of ₹ 1,47,668 .....

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..... ever, it is pertinent to note that assessee had duly remitted the tax deducted at source to the account of the Central Government within the prescribed time. Hence, it could be safely concluded that there is absolutely no loss to the exchequer because of the delay in filing TDS returns from the side of the assessee as all taxes have been duly deposited to the account of Central Government within t .....

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..... electronically filing its TDS returns. In our considered opinion, no penalty could be levied for a mere technical venial breach on the part of the assessee. Reliance in this regard is also placed on the decision of the Hon'ble Madras High Court in the case of CIT vs. Arunachalam reported in 208 ITR 481. In view of the aforesaid observations and respectfully following the same, we hereby direct .....

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