TaxTMI 
TaxTMI 
2015 (9) TMI 430
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.... consolidated order. 2. For the sake of convenience, facts are taken from I. T. A.No. 236/CTK/2014. The following grounds are raised by the assessee: 1. Because that the Ld. CIT(A-1) erred in law as well as in fact by confirming the penalty imposed u/s. 272A(2)(k) not appreciating the fact that the TDS returns are filed after the TDS is deposited. 2. Because that the Ld. CIT(A-1) erred in law as well as in fact by confirming the penalty imposed u/s. 272A(2)(k) which is unjust, arbitrary, excessive and not in accordance with the law. 3. The appellant may add, alter, delete or amend any of the grounds at the time of hearing of the matter." 3. Short facts of the case are that the assessee has filed the quarterly e-TDS statements....
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....s sister concerns for daily cash requirements. From 01/04/2008 to 31/03/2010, it was necessary to mention 95% of PAN of the deductees in case of salary and 85% in case of non-salary deductees. After deposit of TDS the company had made all possible efforts to obtain the required number of PANs from the deductees. The assessee failed to obtain the PANs as required to be filled up in the TDS returns as many of employees had left and many contractors / professionals had stopped working for the company the TDS returns could not be filed in time. Learned AR relied upon the order of the Mumbai Tribunal in the case of M/s. Porwal Creative Version P. Ltd. Vs. ACIT(TDS), Mumbai in I. T. A.Nos.5556 & 5557/Mum/2009. Learned AR submitted that the Tribun....
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....hall, after paying the tax deducted to the credit of the Central Government within the prescribed time, [prepare such statements for such period as may be prescribed] and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed:] 8. Thus, under the provisions of sec. 200(3) r. W. R. 31A, a quarterly statement of TDS in Form No. 26Q is required to be filed by the assessee by 15th July, 15th Oct., 15th January & 15th June (last quarter of the year. In all these cases, there was delay as indicated by Assessing Officer in his table, which was reproduced ....
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....the payment of tax under section 201(1A). Therefore in our view the period for levying the penalty has to be counted from the date of payment of tax because the delay in filing the return till the date of payment of tax is already explained on the ground that the assessee could not pay the taxes for which separate penal provisions exist. The assessee has also explained the reasons for not paying the tax to the Central Government in time which was because of financial difficulties. The assessee has filed the copies of P & L account and balance sheet to substantiate the claim that it was incurring losses and there were substantial liabilities on account of creditors. The assessee has placed reliance on the decision of Mumbai Tribunal in which....