2003 (2) TMI 169

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.... that the assessee has contravened the provisions of s. 272A(2)(g) of the Act. After considering the submissions of the assessee in response to show-cause notice, the AO held that the assessee has not been able to prove that there was a bona fide case in issuing the certificate late. He calculated various delays in respect of each certificate and accordingly imposed the penalty of Rs. 33,16,400 under s. 272A(2)(g) of the Act. On appeal, the CIT(A) approved the imposition of penalty in principle. However, he held that the delay calculated by the AO was wrong. After calculating the delay of these certificates, the CIT(A) reduced the penalty to Rs. 5,20,200 and deleted the penalty of balance amount. 3. The assessee is in appeal before us ag....

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.... effect that they will collect their TDS certificates whenever they needed it. The assessee was under a bona fide belief that whenever these parties would require the TDS certificate, it would be issued at that time. Thus, there was reasonable cause in a little delay in issuing the certificate late. While relying on the decision in Sudershan Auto & General Finance vs. CIT (1998) 60 TTJ (Del) 567 : (1998) 60 ITD 177 (Del) at p. 180, the learned counsel stated that there was no bad intention behind withholding the TDS certificate for a period of 10 to 12 days. The same view was taken by Delhi Bench of the Tribunal in the case reported in Aroma Chemicals vs. Dy. CIT (2002) 121 Taxman 31 (Del) (Tribunal Part). The Hon'ble Pune Bench of the Trib....