1984 (7) TMI 112

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....1,762 levied by the ITO under s. 10 of the CDS (ITP) Act for the two years under consideration. For the first year under consideration the ITO observed that the assessee had made a compulsory deposit payment of Rs. 3,200 on 16th Dec., 1976, which according to him was due on or before 15th Dec., 1976, which according to him was due on or before 15th Dec., 1976. For the next year under consideration....

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....10 of the CDS (ITP) Act, 1974. Since the payment was not less then 75 per cent of the amount due, which was actually Rs. 5,300, there was no shortfall in the payment. In support some, decisions of the Tribunal are placed before us, where under similar circumstances, the penalties levied under s. 10 of the CDS (ITP) Act, 1974 have been cancelled.  The ld. Departmental Representative has relied....

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....all be equal to twenty five per cent of the compulsory deposit which he is liable to make; and (ii) which, in the case referred to in cl. (b), shall be equal to twenty five per cent of the amount by which compulsory deposit made by him falls short of the requisite amount." For the first year under consideration the default on the part of the assessee is merely technical. Though the payment m....