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Income Tax Officer Versus M/s Liver Foundation

2017 (11) TMI 907 - ITAT KOLKATA

Penalty u/s 271C - non deduction of tds u/s 194J / 194C by assessee charitable organization - CIT(A) reversed the order of AO by observing that the assessee has deposited the amount of TDS in the account of Government Exchequer with the delay of few months, therefore there was no default on the part of the assessee under the provisions of TDS - Held that:- From the above discussion, it is clear that the assessee has deposited the amount of TDS with the delay of few months. Therefore, it cannot b .....

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harjee, Addl. CIT-DR By Respondent : None ORDER Per Waseem Ahmed, Accountant Member:- This appeal by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-24, Kolkata dated 30.12.2015. Assessment was framed by ITO Ward-58(3)/TDS, Kolkata u/s 201(1)/201(1A) of the Income Tax Act, 1961 (hereinafter referred to as the Act ) vide his order dated 26.12.2009 for assessment year 2009-10. Penalty levied by JCIT(TDS), Range-58, Kolkata u/s 271C of the Act. 2. At the time of he .....

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engaged in the development of education, health, medical technologies and pharmaceuticals related to liver diseases. The assessing during the year has incurred several expenses which were liable for TDS provisions u/s 194J / 194C of the Act but it failed to comply the same. Therefore, the penalty proceedings u/s 271C of the Act was initiated by the AO. However, the assessee during penalty proceedings before the AO submitted that subsequently it has deducted the amount of TDS and deposited the s .....

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u/s. 201(1)/(1A) of the Income Tax Act, 1961, dt. 26.03.2012. The only point for which the penalty was levied is the delay of few months in payment of taxes deducted at source. Since no default of deduction has been recorded in the order u/s. 201()/(1A) and order u/s 271C, dt.27.04.2015 the question to be seen is whether penalty can be levied on late payment of taxes. Sec. 271C is reproduced as under:- Penalty for failure to deduct tax at source 271C. [(1) if any person fails to: (a) Deduct the .....

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