TMI Blog2021 (2) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... inable. So, finding no illegality or perversity in the impugned order passed by the ld. CIT(A), present appeal filed by the Revenue is hereby dismissed. - ITA No. 3862/Del./2017 - - - Dated:- 17-2-2021 - R. K. Panda , Member ( A ) And Kuldip Singh , Member ( J ) For the Appellant : Prakash Dubey , Senior DR For the Respondents : V. K. Aggarwal , AR and Sweta Bansal , CA ORDER PER KULDIP SINGH , JUDICIAL MEMBER : Appellant, ITO, Ward 78(4), New Delhi (hereinafter referred to as 'the Revenue') by filing the present appeal sought to set aside the impugned order dated 21.03.2017 passed by the Commissioner of Income-tax (Appeals)-41, New Delhi qua the assessment year 2011-12 on the grounds inter alia that:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the I.T. Act without demonstrating genuineness of the stated reasonable cause of the assessee particularly when the assessee was having good technical legal assistance of employees and professionals? 2. That the order of the CIT(A) being erroneous in law and on facts needs to be vacated and the order of the JCIT be restored. 2. Briefly stated the facts necessary for adjudication of the controversy at hand are : Assessing Officer (AO) levied a penalty of ₹ 51,28,950/- under section 271 C of the Income-tax Act, 1961 (for short 'the Act') on receipt of reference from ITO, Ward 78 (4), Delhi that assessee has failed to deduct tax at source of ₹ 51,28,950/- on 20.08.2010 u/s. 194J of the Act. 3. Assessee c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shows the bona fide belief for the assessee for not deducting the tax at source and as such, there was a reasonable cause which was covered by section 273B. 8. Hon'ble Supreme Court in case of CIT-XVIII vs. Bank of Nova Scotia 2016-TIOL-3-SC-IT also upheld the judgment passed by the Hon'ble High Court of Delhi upholding the order passed by the Tribunal on the ground that when there is no mala fide on the part of the assessee, penalty u/s. 271C is not sustainable. 9. In view of what has been discussed above, we are of the considered view that when, in the undisputed facts and circumstances of the case, assessee company has voluntarily on its own deducted the tax and deposited the same with Government exchequer along with inter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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