TaxTMI 
TaxTMI 
2013 (11) TMI 1680
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....assessee is directed against the order of the CIT(Appeals) dated 18.07.2013 relating to financial year 2009-10 against the penalty levied under section 272A(2)(k) of the Income-tax Act, 1961 ( 'the Act' for short). 2. The grounds of appeal raised by the assessee read as under : 1. That on the facts and in the circumstances of the case and in law, Worthy CIT (Appeals) through his order d....
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.... not be levied for late filing of the quarterly returns. There was no response from the assessee and the Assessing Officer, in view thereof held the assessee to be in default and penalty @ Rs. 100/- per day of default was levied for delay of 1885 days in respect of the four quarterly TDS returns, but the same was restricted to Rs. 45,414/- which was equal to the amount of tax deducted at source in....
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....ual date of filing the TDS return and the credit for the same has not been allowed to the assessee. 7. The ld. DR for the revenue placed reliance on the order of the CIT(Appeals). 8. We have heard the rival contentions and perused the record. The issue arising in the present appeal is in relation to levy of penalty under section 272A(2)(k) of the Act which is leviable where the assessee has defa....
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....l: 31894 23774 9. In the totality of the abovesaid facts and circumstances, where assessee had deposited the amount of tax deducted at source on the respective dates, we are of the view that the penalty under section 272A(2)(k) of the Act merits to be restricted to the date of deposit of tax at source which admittedly is beyond the due date of filing the TDS retu....