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TMI Blog1996 (3) TMI 147X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of Income-tax Act, 1961. The amount of TDS was deposited in the Government Treasury on 12-5-1989 by all these assessees. However, Form No. 26A was filed late. The position of penalty levied by the Assessing Officer and the penalty sustained by the CIT(A) is given hereunder : -------------------------------------------------------------------- Name of the assessee Penalty levied Penalty sustained by the ITO by the CIT(A) ---------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence the amended provisions are not applicable in the present cases. The rule prescribing for the time limit was beyond the powers of rule-making authority. He placed reliance on the decisions of the Tribunal in the cases of Ginners & Pressers Ltd. v. Dy. CIT [1993] 115 CTR (Bom.) (Trib.) 187. He, therefore, submitted that the penalty should be cancelled. 4. The learned departmental representative supported the order of the CIT(A) and relied upon the reasons mentioned in the order passed by the CIT(A) as well as by the Assessing Officer. 5. I have considered the submissions made by the learned representatives of the parties and have also gone through the orders of the learned departmental authorities as well as the order of the Tribunal c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TDS in time, as the amount of TDS was duly deposited in the Government Treasury within the prescribed time. Such delay has not caused any loss to the revenue. These provisions requiring obtaining of TDS books from the department and furnishing of such TDS returns were new provisions. The Hon'ble Supreme Court in the case of Hindustan Steel Ltd. v. State of Orissa [1972] 83 ITR 26 has, inter alia, held as under : " An order imposing penalty for failure to carry out a statutory obligation is the result of a quasi-criminal proceeding, and penalty will not ordinarily be imposed unless the party obliged either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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