AO held that the tax deducted at source was deposited belatedly by assessee to Central Government’s account. Accordingly the penalty was levied u/s 271C of the Act .Tribunal seta side the order levying the penalty .On appeal by the revenue the Court held that from years 2009-10 onwards there had been delay in making payments as was borne out from records and the only explanation offered by assessee was that there was failure of clerk who failed to discharge her duties properly. High Court confirmed the levy of penalty. (AY. 2010-11, 2012-13)
CIT v. Eurotech Maritime Academy (P.) Ltd. v. CIT (TDS) (2019) 415 ITR 463 / 106 taxmann.com 86 / 264 Taxman 22 (Ker.) (HC) Editorial: SLP is granted to the assessee, Eurotech Maritime Academy (P.) Ltd. v. CIT (TDS) (2019) 264 Taxman 21//411 ITR 37 (St) (SC)
S. 271C : Penalty-Failure to deduct at source-Regular delays on part of assessee in depositing tax deducted at source-Levy of penalty is held to be justified. [S. 273B]