Case Law Details
Oriental Bank of Commerce Vs JCIT (ITAT Jaipur)
Introduction: The case of Oriental Bank of Commerce vs. JCIT (ITAT Jaipur) involves an ex-parte penalty decision by the Income Tax Appellate Tribunal (ITAT). This article delves into the details of the order, examining the grounds of appeal raised by the assessee and the subsequent legal proceedings.
Detailed Analysis:
1. Background: The appellant, Oriental Bank of Commerce, faced penalties under section 271C of the IT Act for non/short deduction of TDS under section 194A. The Assessing Officer (AO) imposed a substantial penalty of Rs. 2,67,763/- and interest of Rs. 2,24,921/-, totaling Rs. 4,92,684/-.
2. Non-Appearance and Ex-Parte Order: The ex-parte order was passed due to the non-appearance of the assessee during the proceedings. The bank argued that it failed to respond to hearing notices as it was merged with Punjab National Bank, resulting in a change of email ID. Legal precedents emphasizing natural justice principles were cited to support their case.
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