Tribunal held that the assessee had furnished the copies of the Income Tax return filed by the buyers and provided the copies of Form No. 27C received from the buyers but the said form were found to be incomplete. However nowhere it was stated by the A.O that the assessee was required to collect the taxes. Therefore the interest levied by the Assessing Officer u/s 206(7) of the Act on the basis that the copies of the Form No. 27 furnished by the assesse were incomplete was not justified. Accordingly the levy of interest was deleted .(AY. 2013 -14 , 2014 -15 )
Rajasthan State Mines & Minerals Ltd v. ACIT ( 2020) 187 DTR 217 /207 TTJ 764 ( Jodhpur ) ( Trib)
S. 206C : Collection at source – Trading – Alcoholic liquor – Forest produce – Scrap – Levy of interest – Merely because the form No 27 filed by the assessee was incomplete levy of interest is not justified . [ S.201(IA , 206 (7) )