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2022 (11) TMI 978 - AT - Income TaxTCS as per section 206C - sale of scarp - Declarations beyond the time prescribed by law - scrap as generated by assesses during manufacturing process and not that dealt with as trader of scrap - HELD THAT:- No limitation is prescribed in the Act for filing of declaration as required under section 206C(1A) of the Act, and the assessee having filed delayed declaration under a bona fide belief, we are not in agreement with the ld.CIT(A) that these declarations could not have been entertained by the ld.CIT(A). As noted above even the Revenue has considerably delayed action on its end.The assessee alone therefore cannot be held accountable and made to suffer for the delay at its end in filing nthe requisite declarations for claiming exemption from TCS. These declarations, which have been acknowledged as received by the Department, ought to have been considered by the CIT(A) for adjudicating the issue. The assessee having filed declarations relating to substantial portion of the sale of scrap in the present case, and noting the fact that the issue now has become very old with almost 15 years have been elapsed since financial year to which the issue relates , we are of the view that the assessee be given benefit of declaration filed by it, and be not held as ‘assessee-in-default’ for the tax not collected at source. Accordingly, interest charged on the same, is also directed to be deleted. Appeal of the assessee is allowed.
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