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TMI Blog2023 (2) TMI 296X X X X Extracts X X X X X X X X Extracts X X X X ..... issue in the light of various judicial pronouncements. Sine no infirmity has been pointed out in the order of the ld. CIT(A), we confirm the same. Accordingly, the appeals of the Revenue are dismissed. - ITA No. 2864/Del/2019 - - - Dated:- 30-1-2023 - Shri Narender Kumar Choudhry, Judicial Member And Dr. B.R.R. Kumar, Accountant Member For the Assessee : Sh. Praveen Kumar, CA For the Department : Sh. S.L. Verma, Sr. DR ORDER PER N.K.CHOUDHRY, JM: The Assessee has preferred the instant appeal against the order dated 24.01.2019 impugned herein, passed by the Ld. Commissioner of Income tax (Appeals)-31, New Delhi, (in short Ld. Commissioner ) u/s 250 of the Income Tax Act, 1961 (in short the Act ), pertaining to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at source to the tune of Rs. 1,93,162/- and has pleaded to consider the omission with the scope of reasonable cause u/s 273B of the Act, levied the penalty to the tune of Rs. 1,93,162/- u/s 271C of the Act for the year under consideration. 3. The Assessee being aggrieved challenged the said penalty before the learned Commissioner, who vide impugned order affirmed the imposition of penalty u/s 271C of the Act by concluding as under: 4.1. All the grounds of appeal raised are pertaining to imposition of penalty u/s 271C at Rs. 1,93,162/- on account of non deduction of TDS. As regards the time limit of initiation of penalty proceedings u/s 271C, I find that there is no provision under the Act. However, the penalty proceedings have to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh the Assessee defaulted in deducting the tax at source in the instant case within the period as prescribed under the Act, however, it is a fact that the Assessee subsequently deposited the TDS along with interest as soon as it came to its notice, on being informed by the tax auditor and, therefore, there was no mala fide intention not to deduct the TDS. Even it is a fact that though the Assessee carried out the transaction of Rs. 381.95 crores in the relevant assessment year on which TDS amounting to Rs. 20.35 crores was deducted and deposited, however, inadvertently committed error to the tune of Rs. 1,93,162/- only which is minimal in nature. The Assessee in support of its claim also relied upon the order dated 10.7.2015 passed by the H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C) and the Hon'ble jurisdictional High Court in the case of Jagran Prakashan Ltd. v. Deputy Commissioner of Income-tax (TDS) 345 ITR 228 (Alld) and also various orders of the Tribunal, in which it has been held that wherein TDS was paid by the assessee or required tax was paid by the deductee, the assessee should not held to be in default. Only interest on delayed payment under section 201(1A) of the Act can be charged. In the light of these decisions where the assessee has made payment of TDS though late, he cannot be held to be in default and there is no question of levy of penalty under section 271C of the Act. We have carefully perused the order of the ld. CIT(A) and we find that the ld. CIT)A) has adjudicated the issue in the light ..... X X X X Extracts X X X X X X X X Extracts X X X X
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