Chimanlal Kathiriya vs. ACIT

Parties Involved

Facts Summary

The assessee, Chimanlal Kathiriya, had purchased an agricultural land for Rs.28,09,293/-. He had deducted TDS of Rs.28,094/- and deposited the same within the due date. However, there was a slight delay in filing the TDS return in Form No.26QB, for which a penalty of Rs.15,150/- was imposed by the CPC-TDS. The assessee argued that he was not liable to deduct any TDS as the consideration paid was below Rs.50 Lakhs and the delay in filing the TDS return was unintentional. The assessee requested that the penalty for late filing of TDS return may be condoned. The respondent supported the order of the lower authorities.…

Legal Issues

• 1. Whether the penalty imposed for late filing of TDS return is justified?
• 2. Whether the assessee can claim exemption under section 194IA(2) of the Act?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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