Section 276b

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CA MANISH LADDHA (Querist)
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18 February 2012 The Assessing officer has issued a show cause notice U/s 276B for imprisionment for late deposition of challan of TDS. However the challans are deposited with in 7 days of deduction but when we revise the TDS return for particular quarter, we need to report the date of deduction as older one i.e. tax deducted on 17.02.2012 for fy 2009-10 is to be reported as deducted on 31.03.2010. We need some caselaws on this case.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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18 February 2012 This is a technical mistake and can be explained to the A. O.
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Section 276B can be invoked only when the assessee fails to deposit the amount to the credit of Central Govt.

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In case the challans are deposited in time,
those may be produced before him. If the amount is already paid, Section 276B can not be invoked by him, merely on a small technical mistake.
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For case law -please allow me time of a day.
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