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| The Tax Publishers2020 TaxPub(DT) 0589 (Ctk-Trib) INCOME TAX ACT, 1961
Section 272A(2)(k)
Where assessee could not demonstrate that he had furnished any reasonable cause for non-furnishing of PAN by deductee so as to enable him to get the benefit of section 273B and deposited to Government within the time with the prescribed authority and was also not prevented by any reasonable cause for delay in filing the 24Q and 26Q statements, therefore penalty under section 272A(2)(k) was justified.
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Penalty under section 272A(2)(k) - Delay in remitting TDS - Delay caused on account of ignorance of law on the part of new accountant, whether a reasonable cause -
Assessee filed the quarterly statements of TDS in Form Nos. 24Q and 26Q of different quarters for the financial year 2007-2008. Since there was no reasonable explanation for huge delay in filing the 24Q and 26Q statements, JCIT(TDS) concluded that the penalty under section 272A(2)(k) was leviable in the case of assessee. Accordingly, the AO levied penalty under section 272A(2)(k). Held: Assessee was paying salary to his employees and he should have asked to the deductee for furnishing PAN before making salary payments. Assessee could not demonstrate that the assessee has furnished any reasonable cause for non-furnishing of PAN by the deductee so as to enable him to get the benefit of section 273B and he has deducted TDS and deposited to the Government within the time with prescribed authority. Assessee was also not prevented by any reasonable cause for delay in filing the 24Q and 26Q statements as required for all the quarters in a financial year. Therefore, lower authorities were justified to impose the penalty as per the provisions of section 272A(2)(k).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2008-2009
IN THE ITAT, CUTTACK BENCH
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