Income Tax Appellate Tribunal - Ahmedabad
Shree Saras Spices & Food P.Ltd.,, ... vs Acit.,Circle-8,, Ahmedabad on 22 November, 2016
IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, AHMEDABAD BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER आयकर अपील सं./ ITA No. 710/Ahd/2013 िनधा रण वष / Assessment Year : 2007-08 Shree Saras Spices & Food Pvt Ltd ACIT (OSD), A/3, 4th Floor, Casela Tower, S.G. Vs Circle-8, Highway, Satellite, Ahmedabad Ahmedabad PAN : AAFCS 6824 G अपीलाथ / अपीलाथ (Appellant) यथ यथ / थ (Respondent) Assessee by : None Revenue by : Shri Vimal I. Mehta, Sr. DR सुनवाई क तारीख/ Date of Hearing : 22/11/2016 घोषणा क तारीख / Date of Pronouncement: 22/11/2016 आदेश/O R D E R This appeal by the assessee is directed against the order of the Learned Commissioner of Income-Tax (Appeals)-XIV, Ahmedabad dated 14.01.2013 for Assessment Year 2007-08.
2. The sole ground raised is as under:-
The learned Commissioner of Income-tax (Appeals) erred in law and on facts in confirming the penalty u/s 271(1)(c) of the Income-tax Act, 1961 to the extent of Rs.35,002/- in respect of disallowance of interest on late deposit of TDS amounting to Rs.1,05,005/-
3. None appeared for the assessee at the time of hearing. The issue being small, the appeal is decided ex-parte qua the assessee, after hearing the ld. DR and perusing the material available on record.
4. From the record, it appears that the assessee paid the TDS and filed the return thereof belatedly. The penalty in question has been imposed u/s 271(1)(c) of the Act for concealment of income.
5. I have heard the ld. DR, perused the material available on record and gone through the orders of the authorities below. In my considered view, SMC-ITA No. 710/Ahd/2013 Shree Saras Spices & Food Pvt Ltd vs. ACIT AY : 2007-08 2 when the return of TDS is filed, it clearly implies that all the facts have been disclosed to the Department. In such cases penalty u/s 271(1)(c) of the Act cannot be imposed as held by the Hon'ble Supreme Court in the case of CIT vs. Reliance Petroproducts Pvt Ltd, reported in [2010] 322 ITR 158 (SC). More so, in the present case, it is not the question of income but the TDS which has been paid and for the delayed period, the requisite interest has also been paid. In view of these facts and circumstances, this is not a fit case to impose penalty u/s 271(1)(c) of the Act, which is deleted.
6. In the result, the assessee's appeal is allowed.
Order pronounced in the Court on 22nd November, 2016 at Ahmedabad.
Sd/-
R.P. TOLANI
(JUDICIAL MEMBER)
Ahmedabad; Dated 22/11/2016
*Biju T., Sr. PS
आदेश क ितिलिप अ ेिषत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2.
यथ / The Respondent.
3. संबंिधत आयकर आयु / Concerned CIT
4. आयकर आयु (अपील) / The CIT(A)
5. िवभागीय ितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड फाईल / Guard file.
आदेशानुसार/ BY ORDER, TRUE COPY उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपीलीय अिधकरण, अहमदाबाद / ITAT, Ahmedabad