Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 489 - AT - Income TaxLevy of late filing fee u/s 234E - demand u/s 200A - diversified views - HELD THAT:- In the absence of the judgement of Hon’ble jurisdictional High Court , we are of the view that the decision, most favourable to the assessee required to be adopted as held by the Hon’ble Apex Court in the case of M/s Vegetable Products Ltd. [1973 (1) TMI 1 - SUPREME COURT]. The Hon’ble Karnataka High Court in the case of Sree Ayyappa Educational Charitable Trust [2018 (1) TMI 90 - KARNATAKA HIGH COURT] and Fatheraj Singhvi & Ors. [2016 (9) TMI 964 - KARNATAKA HIGH COURT] held that unless it is expressly provided or impliedly demonstrated, any provision of statute is to be read as having prospective effect and not retrospective effect, and accordingly decided the issue in favour of the assessee. Thus we hold that the late fee levied is unsustainable, accordingly we set aside the orders of the lower authorities and delete the late fee levied by the AO. - Decided in favour of assessee.
|