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Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
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The High Court held that the Land Acquisition Officer (LAO) cannot be penalized u/s 201 and 201(1A) of the Income Tax Act, 1961 for non-deduction of TDS on compensation paid for acquisition of agricultural land. The LAO genuinely followed the advice of his superior, a District Revenue Officer, based on legal advice and directions from the High Court. While the Court's order may have been inconsistent with other High Court orders, the LAO could not ignore or violate the Court's presumptively correct order until set aside on appeal. Absence of fault and genuine belief based on the High Court's judgment that TDS need not be deducted on interest paid, renders the LAO's action of releasing interest without TDS deduction neither wrongful nor illegal. The LAO cannot suffer due to Court orders. The penalty imposed by the Assistant Commissioner of Income Tax, TDS Circle is set aside.
The High Court held that the Land Acquisition Officer (LAO) cannot be penalized u/s 201 and 201(1A) of the Income Tax Act, 1961 for non-deduction of TDS on compensation paid for acquisition of agricultural land. The LAO genuinely followed the advice of his superior, a District Revenue Officer, based on legal advice and directions from the High Court. While the Court's order may have been inconsistent with other High Court orders, the LAO could not ignore or violate the Court's presumptively correct order until set aside on appeal. Absence of fault and genuine belief based on the High Court's judgment that TDS need not be deducted on interest paid, renders the LAO's action of releasing interest without TDS deduction neither wrongful nor illegal. The LAO cannot suffer due to Court orders. The penalty imposed by the Assistant Commissioner of Income Tax, TDS Circle is set aside.
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