Case Law Details
Telangana State Medical Services Infrastructure Development Corporation Vs ACIT (ITAT Hyderabad)
No penalty for delay in filing quarterly TDS statement if entire tax along with interest deposited in Government account
Conclusion: Penalty under Section 272A(2)(k) could not be imposed merely for the delay in filing Quarterly TDS Statement as the entire tax along with interest thereon had been deposited in to Govt. account and later, assessee filed quarterly TDS returns for all the quarters and Revenue had not suffered any loss because tax deducted was already deposited on time and there was mere technical or venial breach to provisions contained in Act for submitting return/statements of TDS.
Held: During the course of survey, it was found that, the assessee-deductor had failed to file TDS Quarterly Statements/Returns U/s.200(3) for the F.Y.2008-09 relevant to the AY 2009-10 in respect of all the four quarters in form No.24Q & 26Q. AO levied penalty U/s.272A(2)(k) as assessee-deductor had not filed quarterly TDS statements in Form No.24Q and 26Q for all the four quarters of the F.Y.2008-09 within the time prescribed by the I.T. Act. It was found from the orders of authorities below that the entire tax along with interest thereon had been deposited in to Govt. account and later, assessee filed quarterly TDS returns for all the quarters. Following the decision in the case of Maharashtra Jeevan Pradhikaran Vs. JCIT, in ITA No. 2410/PUN/2017 wherein it was held that Revenue had not suffered any loss because tax deducted was already deposited on time and there was mere technical or venial breach to provisions contained in Act for submitting return/statements of TDS. Therefore, penalty was not to be levied and question was answered in favour of the assessee.
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