VISA CHEMICAL INDUSTRIES,THANE vs. ADDL CIT TDS RG, THANE

2 ITA.No.4178/MUM/2016 (A.Y: 2010-11) ITA.No.4179/MUM/2016 (A.Y: 2011-12) M/s. Visa Chemical Industries 2. Learned Counsel for the assessee, at the outset submits that penalty levied on similar circumstances for the Assessment Year 2009-10 has been deleted by the Coordinate Bench in assessee’s own case in ITA.No.4177/Mum/2016 dated 26.05.2017. The Learned Counsel for the assessee submits that since facts and circumstances being identical the penalty levied for the Assessment Years 2010-11 and 2011-12 may also be deleted.

Ld. DR vehemently supported the orders of the lower authorities.

Heard rival submissions perused the orders of the authorities below and the decision of the Coordinate Bench. The Coordinate Bench deleted the penalty levied for delay in furnishing the TDS statements in the immediately preceding Assessment Year following the decision of the Cuttack Bench in the case of State Bank of India v. JCIT [56 Taxman.com 319], where identical issue is decided. The delay in furnishing TDS statements seems to have happened for the reason that assessee did not have PAN No. of the deductees and therefore unable to upload the TDS returns on the system of the department. Taking note of the difficulties of the assessee in furnishing the TDS returns within the time, the Coordinate Bench deleted the disallowance. Thus, respectfully following the said decision of the Coordinate Bench in assessee’s own case for the 3 ITA.No.4178/MUM/2016 (A.Y: 2010-11) ITA.No.4179/MUM/2016 (A.Y: 2011-12) M/s. Visa Chemical Industries Assessment Year 2009-10 in ITA.No.4177/Mum/2016, we delete the penalties levied for these two Assessment Years also.

In the result the appeals of the assessee are allowed.