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Case Law Details

Case Name : Bank of India Vs ACIT (ITAT Chennai)
Appeal Number : ITA No.455/Chny/2023
Date of Judgement/Order : 01/06/2023
Related Assessment Year : 2013-14
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Bank of India Vs ACIT (ITAT Chennai)

In the case of Bank of India vs Assistant Commissioner of Income Tax (ACIT), the Income Tax Appellate Tribunal (ITAT) Chennai examined the legality of the imposition of TDS late fees under section 234E for periods before June 1, 2015. This case presents an important question regarding the time-specific applicability of certain tax laws, contributing to ongoing discourse within the domain of taxation.

Analysis: The case began with the levy of a late filing fee under section 234E by the TDS-CPC for a delay in filing the quarterly TDS returns in Form No. 26Q. The due date was October 15, 2012, but the assessee filed it only by January 3, 2014, resulting in the imposition of a penalty. Upon the appeal to the CIT(A), the penalty was upheld, leading the assessee to approach the ITAT.

Notably, the tribunal adjudicated the matter based on its previous decisions, referencing the landmark ruling of the Hon’ble Karnataka High Court in Fatehraj Singhvi V/s Union of India. The High Court held that the amendment to Section 200A by inserting clause (c) only came into effect from June 1, 2015, and therefore, no fees would be applicable for any period prior to that date.

Relying on this precedent, ITAT Chennai concluded that no late fees under section 234E should have been levied on the Bank of India for any period before June 1, 2015, and directed the Assessing Officer to revise the demand raised against the assessee accordingly.

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