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2023 (7) TMI 984 - AT - Income TaxDefault u/s. 206C - assessee has not collected TCS on sale of scraps - late filing of Form 27C - HELD THAT:- It is an admitted fact that the assessee filed Form 27C namely declaration as prescribed in Section 206C(1A) of the Act to be filed by a buyer before delivery of the goods namely “scraps” in this case, without collection of tax. The Assessing Officer has not accepted the late filing of the declaration, as the same is again Rule 37C of the Income Tax Rules and thereby charged tax at 1% and also levied interest u/s. 206C of the Act. However sub-section (1A) of section 206C does not provide for any time limit within which, such declaration is to be filed by the buyer. However time limit is prescribed in Rule 37C of the I.T. Rules. Hon’ble Gujarat High Court in the case of CIT (TDS) Vs. Siyaram Metal Udyog Pvt. Ltd. [2016 (7) TMI 68 - GUJARAT HIGH COURT] held that when there was no dispute about the declaration being filed in prescribed Form 27C and there was no dispute about the genuineness of such declaration, mere minor delay in filing the said declaration would not defeat the very claim made by the assessee and thereby dismissed the Revenue appeal. Thus we hereby set aside the orders passed by the Lower Authorities for the reason, the A.O. failed to verify the Form 27C though the assessee submitted belatedly and the Ld. A.O. declined to accept the same in view of Rule 37C of the I.T. Rules. Further there is no issue qua genuineness of these Forms. Appeal filed by the Assessee is allowed for statistical purpose.
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