TMI Blog2021 (6) TMI 504X X X X Extracts X X X X X X X X Extracts X X X X ..... he entire taxes that were due to the Government had already been duly remitted by the assessee. Hence, the default committed by the assessee is only a minor technical and venial breach. As settled law that no penalty could be levied on an assessee for a mere technical venial breach, more especially when there is no loss caused to the exchequer due to such breach. In view of the same, we have no hesitation in directing the ld. AO to delete the penalty levied u/s. 272A(2)(k) in the facts and circumstances of the instant case. Accordingly, the grounds raised by the assessee are allowed. - ITA No. 4503/Mum/2019 - - - Dated:- 11-6-2021 - Mahavir Singh, Vice President And M. Balaganesh, Member (A) For the Respondents : T.S. Khalsa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 26Q Other than salary 15/01/2012 28/05/2015 1228 4 26Q Other than salary 15/05/2012 05/01/2016 1330 Total 5007 3.1. For the aforesaid delay, the ld. AO proceeded to levy penalty @100/- per day in terms of Section 272A(2)(k) of the Act and accordingly, arrived at the penalty amount of ₹ 500,700/-. This levy of penalty was upheld by the ld. CIT(A) on the ground that assessee had not offered any reasona ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e had indeed filed its TDS statements u/s. 200(3) of the Act beyond prescribed time. But we find that there is absolutely no loss to the exchequer pursuant to the said delay as the entire taxes that were due to the Government had already been duly remitted by the assessee. Hence, the default committed by the assessee is only a minor technical and venial breach. It is settled law that no penalty could be levied on an assessee for a mere technical venial breach, more especially when there is no loss caused to the exchequer due to such breach. 3.3. In view of the same, we have no hesitation in directing the ld. AO to delete the penalty levied u/s. 272A(2)(k) in the facts and circumstances of the instant case. Accordingly, the grounds raised ..... X X X X Extracts X X X X X X X X Extracts X X X X
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