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TMI Blog2025 (1) TMI 523X X X X Extracts X X X X X X X X Extracts X X X X ..... s not been established through documents by the assessee before the CIT(A). But the fact remains that the assessee deducted the TDS at the time of paying consideration and not deposited the TDS within the statutory time which denied the credit to deductor for his tax purpose. In the present assessee s case the TDS was deposited belated as well as Form 26QB. The purpose of depositing the TDS within the stipulated/statutory time is to allow the credit to the other party i.e. deductee, once it is deducted by the deductor. But in the present case the deductee could not avail the same. Thus, CPC-TDS has rightly imposed the penalty u/s. 234E of the Act. The appeal of the assessee is dismissed. - Ms. Suchitra Kamble, Judicial Member And Shri Mak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icultural land the assessee deposited TDS late and also filed Form 26QB late. The CPC-TDS Ghaziabad had processed the return of TDS and imposed the Late filing fee of Rs. 12,400/- u/s. 234E of the Income Tax Act, 1961, vide order dated 08- 03-2022 in respect of delay in filing of Form 26QB for Financial Year 2021- 22 i.e. Assessment Year 2022-23. 4. Being aggrieved by the said order u/s. 200A of the Act, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The ld. A.R. submitted that the assessee has purchased the agricultural land and paid amount of Rs. 56,18,598/- thereby voluntarily deducting TDS @ 1% amounting to Rs. 56186/- u/s 194IA of the Act. The Ld. AR submitted that the land was purchase ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is more than 50 lacs. Thus, the CIT(A) held that the assessee cannot claim exemption under sub-section 2 of Section 194IA of the Income Tax Act, 1961. Besides this the CIT(A) further held that the plea of the assessee that the said land is agricultural land has not been established through documents by the assessee before the CIT(A). But the fact remains that the assessee deducted the TDS at the time of paying consideration and not deposited the TDS within the statutory time which denied the credit to deductor for his tax purpose. The decision of the Tribunal in case of Chimanlal Kathiriya (supra), it is not applicable in the present case as in the said case the TDS was deposited within time, only Form 26QB was filed late. But in the prese ..... X X X X Extracts X X X X X X X X Extracts X X X X
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