M/S. Lal Exports Ltd., Delhi vs. ACIT, New Delhi
In the result, appeal of the assessee is allowed in part for statistical purpose
ITA 5859/DEL/2016[2012-13]Status: DisposedITAT Delhi13 Nov 2019AY 2012-13
Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary
For Appellant: Shri Shafiq Khan, AdvocateFor Respondent: Smt. Aparna Karan, CITDR
Section 194ASection 201Section 201(1)Section 40Section 43B
…f Rs.75,809/-on late payment of TDS, Ld. CIT(A), while following the decision of the Madras High Court in the case of Chennai Properties and Investments Ltd., 105 taxman 346 and also the decision of a coordinate Bench of this Tribunal in Iyer & sons (P) Ltd., 1 ITD 502, reached the conclusion that the interest on delayed TDS paid by the assessee takes colour from the nature of the principal amount required to be paid but not paid within time and in the circumstances, is in the nature of penalty though not described as such in section 201(1A) of the Act and, therefore, the same cannot be allowed. 7. Felt aggrieve…
