TMI Blog2018 (11) TMI 1026X X X X Extracts X X X X X X X X Extracts X X X X ..... utcome of this revision inasmuch as if it is found that the assessee had deposited the entire amount of TDS together with due interest before issuance of penalty notice under Section 8-D(6) of the Act the penalty may not be imposable at all inasmuch as in such case, the assessee necessarily would have to be held to have cleared the default on its own without the same coming to the notice of the relevant authority. Since the Tribunal has not recorded any finding as to the date when the penalty proceedings were instituted or the amount of interest that became due against the assessee and the date when the entire due amount had been paid the present order of the Tribunal is set aside and the matter remitted to the Tribunal to pass a fresh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f TDS together with interest liability. 5. In such fact, it has been submitted that the assessee having cleared the default of TDS together with interest prior to issuance of any notice before penalty, the revenue had not suffered any loss and therefore, the assessee could not have been penalized. 6. As to the provisions of Section 8-D (6) of the Act, it has been submitted that the penalty imposable under that provision is discretionary and not mandatory. Reliance has been placed on certain decisions of this Court where similar penalty had been deleted after taking note of the fact that the assessee (in those cases) had deposited the entire amount of TDS together with interest prior to issuance of penalty notice. Thus reliance has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken by the Tribunal that the deduction is required to be made under Section 8-D(6) of the Act was mandatory, has been upheld. 9. Having considered the arguments so advanced by learned counsel for the parties, at present though it is admitted to the assessee that the net amount of TDS required to be deposited by the assessee was ₹ 1,44,068/- for the A.Y. 1990-91, however, the amount of interest that became due on that amount (since the assessee failed to make timely deposit of the same) is not borne out from any of the order accompanying the present revision application. The amount of interest would have bearing on the outcome of this revision inasmuch as if it is found that the assessee had deposited the entire amount of TDS toge ..... X X X X Extracts X X X X X X X X Extracts X X X X
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