Assessing Officer filed a complaint before ACMM under section 276B read with section 278B.ACMM held assessee-company guilty and was sentenced to a fine of Rs. 25 lakhs. Sessions Court set aside said conviction on the ground that TDS along with fine was deposited. The assessee had failed to establish its defence under section 278AA as no documentary evidence was produced to reflect its poor financial condition so as to prove that it had any reasonable cause for failure to deposit TDS within the prescribed period. There was a delay of 4-15 months in the deposit of TDS, which showed that assessee was functioning and had the financial capacity to pay, though delayed by 4 months to 15 months. The company was to be held guilty for an offence under section 276B for not depositing TDS in time, and the judgment of the Sessions Judge was based on a wrong appreciation of facts and was to be set aside. However, considering that it was a technical offence and the company had already deposited the entire amount of TDS along with compensatory interest and that the company was facing liquidation proceedings, reflecting its poor financial status, further imposition of a fine was not merited. The sentence of fine imposed by ACMM was to be modified, and the company was sentenced to admonition.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 276B : Offences and prosecutions-Failure to pay to the credit tax deducted at source-Sentence of fine as imposed by ACMM was to be modified, and the company was sentenced to admonition. [S.278AA, 278B, Code of Criminal Procedure, 1973, S. 378]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60658","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fMm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=60658"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60658\/revisions"}],"predecessor-version":[{"id":60659,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60658\/revisions\/60659"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}