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2013 (11) TMI 1680 - ITAT CHANDIGARHLevy of penalty u/s 272A(2)(k) - Late filing of TDS return - HELD THAT:- the penalty under section 272A(2)(k) of the Act merits to be restricted to the date of deposit of tax at source which admittedly is beyond the due date of filing the TDS returns. The decision in support was laid down in H.M.T. Ltd. Tractors Division Vs CIT [ 274 ITR 544 (P&H) ] [2004 (8) TMI 50 - PUNJAB AND HARYANA HIGH COURT] wherein it has been held that where the tax at source had been paid in time and the necessary return in respect thereof was filed in time with the income tax department, on mere late issue of tax deduction certificate, there was no loss to the Revenue and the delay in furnishing the tax deduction certificate was merely technical or venial in nature and penalty could not be imposed. Accordingly, direction given to the Assessing Officer to recompute the penalty leviable under section 272A(2)(k) of the Act in line with our directions. The grounds of appeal raised by the assessee are, thus partly allowed. In the result, appeal of the assessee is partly allowed.
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