2018 (7) TMI 1315

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....r Bench Both these appeals have been filed by the assessee. ITA No. 784/Del/2015 is against order dated 10.12.2014 passed by the Ld. CIT(A)-Meerut for assessment year 2008-09 wherein, vide the impugned order, the Ld. CIT(A) has confirmed imposition of penalty of Rs. 32,900/- imposed u/s 272A(2)(k) of the Income Tax Act, 1961 (hereinafter called to 'Act'). Similarly, ITA No. 785/Del/2015 is chal....

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....e quarterly statements in assessment year 2008-09 were filed late by 228 days for the first quarter, 165 days for the second quarter and 150 days for the third quarter. Thus, the total number of days for late filing was counted to be 543 days. The AO further noted that the quarterly statements in Form 24Q were also delayed by 543 days. He, accordingly, imposed a penalty of Rs. 1,08,600/- for both ....

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....but also did not deposit the tax deducted by it. The Ld. CIT (A) noted that had the assessee committed the default of only late filing, it could have been held to be a mere technical breach but since the tax was not also deposited within the prescribed period, penalty was imposable. The Ld. CIT (A), however, held that as there were mistakes in counting the number of days of default and further tha....

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....as due to severe financial crisis which the assessee was facing. However, it is seen that the Ld. CIT (A) has not considered this submission of the assessee nad has upheld the penalty on the ground that even the tax deducted at source was not deposited in time. However, it is our considered opinion severe financial crisis is a reasonable cause which would have prevented the asssessee from depositi....