PUNJAB STATE FOREST DEVELOPMENT CORPORATION LIMITED, BATHINDA V. COMMISSIONER OF INCOME TAX .CPC (TDS), GHAZIABAD

ITA 392/ASR/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 6823 (ITAT-AMRITSAR)
• Duration Of Justice: 1 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 28-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DHEERAJ GARG
• Keywords: TDS
• Section: 234E

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE SH. VIKRAM SINGH YADAV , ACCOUNTANT MEMBER AND SH. N.K.CHOUDHRY, JUDICIAL MEMBER ITA NO. 391, 392, 393 & 394/ASR/2019 A.YS : 2015-16 (2 ND Q), 2015-16 (3 RD Q), 2015-16 (4 TH Q) & 2016-17(1 ST Q) PUNJAB STATE FOREST DEVELOPMENT CORPORATION, BATHINDA [PAN:AABCP2806R] VS. CIT, CPC, TDS, GHAZIABAD (APPELLANT) (RESPONDENT) APPELLANT BY: SH. VINAMAR GUPTA (CA) RESPONDENT BY: SH. DHEERAJ GARG (DR) DATE OF HEARING: 26.07.2019 DATE OF PRONOUNCEMENT: 26.07.2019 ORDER PER: VIKRAM SINGH YADAV, A.M. THESE ARE 4 APPEALS FILED BY THE ASSESSEE AGAINST THE CONSO LIDATED ORDER OF LD. CIT(A) DATED 15.03.2019 CONFIRMING THE LEVY OF FEES UNDER SECTION 234E OF THE ACT. 2. AT THE OUTSET, THE LD. AR SUBMITTED THAT THE ASSESSEE IS A GOVERNMENT CORPORATION UNDER THE PUNJAB GOVERNMENT AND DEALING WITH THE FOREST DEPARTMENT AND HAS SOLD TIMBER IN THE MARKET AND HAS CO LLECTED TCS FROM THE BUYERS TIMBER. IT WAS FURTHER SUBMITTED THAT DUE TO PURE OVERSIGHT, THE ASSESSEE HAS FILED THE QUARTERLY TCS RETURNS IN FORM 26Q INSTEAD OF FORM 27EQ. IT WAS FURTHER SUBMITTED THAT THERE IS NO DISPUTE THAT THE FORM 26Q HAS BEEN FILED WELL BEFORE THE PRESCRIBED DUE DATE OF FILING THE QUARTERLY RETURNS. IT WAS FURTHER SUBMITTED THAT LATER ON, WHEN ASSESSEE REALIZE ITS MISTAKE, IT FILED RETURNS IN FORM 26EQ FOR THE RESPECTI VE QUARTERS AND ON THE ITA NO. 391, 392, 393 & 394/ASR/2019 PUNJ AB STATE FOREST DEVELOPMENT CORPORATION LTD., BATHI NDA VS. CIT, GHAZIABAD 2 PROCESSING ON THE SAID RETURNS, THE CENTRAL PROCESSING CENT RE OF THE DEPARTMENT HAS RAISED THE DEMAND U/S 234E RELATING TO LATE FILING OF THE QUARTERLY TCS RETURNS. IT WAS SUBMITTED THAT BEING A T ECHNICAL BREACH ON THE PART OF THE ASSESSEE IN FILING THE TCS RETURN IN FORM 2 6Q INSTEAD OF FORM 27EQ, THE SAME IS COVERED BY SECTION 292B AS THE TCS RET URNS ORIGINALLY FILED WERE IN SUBSTANCE AND EFFECT IN CONFORMITY WITH AN D ACCORDING TO THE INTENT AND PURPOSE OF THE ACT. 3. THE LD. DR IS HEARD WHO HAS RELIED ON THE ORDER O F THE LOWER AUTHORITIES. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PURUSED T HE MATERIAL AVAILABLE ON RECORD. WE FIND FORCE IN THE ARGUMENTS SO ADVANCED BY THE LD. AR THAT WHERE THE TRANSACTIONS SO REPORTED IN FORM 26Q ARE IDENTICAL TO THE TRANSACTIONS SUBSEQUENTLY REPORTED IN FORM 27EQ FOR THE RESPECTIVE QUARTERS, THE ASSESSEE HAS SUBSTANTIALLY COMPLIED WITH THE REQUIREMENTS OF FILING OF QUARTERLY TCS RETURN. MERELY BY FILING TH E RETURNS IN DIFFERENT FORM THEN ONE WHICH IS PRESCRIBED DOES NOT CAUSE ANY PREJUDICE T O THE REVENUE. FURTHER, THE ASSESSEE HAS ALSO CONTENDED THAT THE FORMS 26 Q ORIGINALLY FILED WERE WELL WITHIN THE PRESCRIBED TIME LIMIT AND TCS HA S BEEN DULY DEPOSITED. WE ACCORDINGLY DECIDE THE MATTER IN FAVOUR OF THE ASSESSEE SUBJECT TO VERIFICATION OF THE TRANSACTIONS AS REPORTED IN FORM 26Q AND FORM 27EQ. THE MATTER IS ACCORDINGLY SET-ASIDE TO THE FILE OF THE LD. CIT(A) FOR THE LIMITED PURPOSES OF VERIFICATION. THE ASSESSEE IS ALSO DIRECTED TO F ILE THE RECONCILIATION STATEMENT IN TERMS OF TRANSACTIONS AS REPORT ED IN FORM 26Q AS WELL AS 27EQ. IN THE RESULT, ALL THE FOUR APPEALS FILED BY THE ASSESSEE ARE ALLOWED IN LIGHT OF ABOVE DIRECTIONS. ITA NO. 391, 392, 393 & 394/ASR/2019 PUNJ AB STATE FOREST DEVELOPMENT CORPORATION LTD., BATHI NDA VS. CIT, GHAZIABAD 3 ORDER PRONOUNCED IN THE OPEN COURT ON 26.07.2019. SD/- SD/- (N.K.CHOUDHRY) ( VIKRAM SINGH YADAV ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 26.07.2019 GANESH KR. PS COPY OF THE ORDER FORWARDED TO: (1) PUNJAB STATE FOREST DEVELOPMENT CORPORATION L TD., BATHINDA (2) CIT CPC, TDS, GHAZIABAD (3) THE CIT(A)-BATHINDA (4) THE CIT CONCERNED (5) THE SR DR, I.T.A.T., AMRITSAR TRUE COPY BY ORDER