Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s. Weatherguard Aircon Pvt. Ltd. Versus Addl. Commissioner of Income Tax

Penalty imposed under section 272A(2)(k) - delay in filing TDS statements - Held that:- Undisputedly, it is a fact on record that there is a delay in filing TDS statements in respect of all the four quarters as far as Form no.24Q is concerned and as far as statements in Form no.26Q is concerned, there is a delay in filing the TDS statement in respect of quarter 2, 3 and 4. On a perusal of the details of filing of TDS statement, it is seen that the delay is substantial ranging from almost one yea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s of the company, hence, there is no willful intention to delay or deprive any deductee of the TDS credit. However, before the first appellate authority, the assessee has taken a completely different stand by stating that due to oversight of the staff, TDS statement could not be filed. When the learned counsel was specifically asked by the Bench why this stand taken before the first appellate authority was not taken before the Assessing Officer, he submitted that due to very short time given by .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

fore the first appellate authority which is not available before the Assessing Officer. Moreover, the plea regarding oversight by the staff is very general in nature, hence, cannot be accepted. Neither the assessee has identified the concerned employee nor furnished any affidavit of the employee admitting such fact. Further, considering the period of delay, the plea of oversight by staff is not acceptable.

Though, we accept the fact that imposition of penalty under section 272A(2)(k) .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Shri M P Chhajed & Shri Piyush Chhajed For the Respondent : Shri Harshad Vengurlekar ORDER Per Saktijit Dey, JM This is an appeal filed by the assessee against the order dated 17th February 2014, of learned Commissioner (Appeals)-14, Mumbai, for the assessment year 2010-11. 2. The assessee is basically aggrieved with the confirmation of penalty of ₹ 3 lakh, imposed under section 272A(2)(k) of the Income Tax Act, 1961 (for short "the Act"). 3. Briefly stated the facts are, the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

by 15th July, 15th October, 15th January and 15th June of the year. As the assessee has not filed the quarterly statement within the aforesaid prescribed date, the Assessing Officer issued a show cause notice to the assessee to explain why penalty under section 272A(2)(k) should not be imposed. In response to the show cause notice, as stated by the Assessing Officer, though the assessee admitted the default committed in filing the TDS statement but requested for not imposing penalty. The Assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

due to oversight of his staff, TDS statement could not be filed in time. The learned Commissioner (Appeals), however, was not convinced with the explanation of the assessee. He observed that the provisions contained under section 203 r/w rule 31A require strict compliance. Therefore, the plea of lack of staff, ignorance of TDS provisions would not constitute reasonable cause. Accordingly, he confirmed levy of penalty. 5. The learned counsel for the assessee submitted before us, though, there is .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

TDS amount to Government account along with the statutory interest in those cases where remittance was delayed. Thus, the learned Counsel for the assessee submitted when there is no loss to the Revenue for a mere technical breach, penalty should not be levied. It was further submitted that when the assessee had deposited the TDS amount to the Government account, the assessee has to be treated as a law abiding citizen and the delay in filing the TDS statement should not be attributed as a neglige .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

resentative submitted what constitutes reasonable cause would depend upon the fact of each case and it would mean a reasonable cause which would constrain a person of average intelligence and ordinary precedence. He submitted that in the present case, the assessee was negligent in carrying out the statutory mandate and the plea that it was due to oversight of staff is not acceptable. For this proposition, he relied upon the following decisions:- i) HTSL Community Service Trust v/s JDIT (E), [201 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

TDS statement, it is seen that the delay is substantial ranging from almost one year to about two years. It is also relevant to note that on a specific query from the bench it was submitted by the learned Counsel that in respect of some of the quarters TDS amount was remitted to the Government account beyond the prescribed date. Thus, keeping in view the aforesaid factual decision, it is to be decided whether there is a reasonable cause for not imposing penalty. As could be seen, in response to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the learned counsel was specifically asked by the Bench why this stand taken before the first appellate authority was not taken before the Assessing Officer, he submitted that due to very short time given by the Assessing Officer for submitting the reply, the assessee could not take such stand. However, we are not convinced with the aforesaid submissions of the assessee. It is relevant to note that in response to the show cause notice issued by the Assessing Officer, the assessee did submit its .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ng such fact. Further, considering the period of delay, the plea of oversight by staff is not acceptable. Though, we accept the fact that imposition of penalty under section 272A(2)(k) is not mandatory as the provisions of section 273B is also applicable in case of imposition of penalty under section 272A(2)(k), but, at the same time, the assessee has to show reasonable cause for the default. As far as the decision relied upon by the learned Counsel for the assessee, we find them to be factually .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Forum: Input Tax Credit - Reg

Forum: GST Invoice

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Forum: Rent a cab operator

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Forum: GSTR 3B Rectification

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

News: Notification Issued For GST Actionable Claim On Branded Food Products

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act

Notification: Rates for supply of services under CGST Act

Highlight: Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

Notification: Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

News: Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Circular: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg.



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version