COMMISSIONER OF INCOME TAX Vs. SAHARA AIRLINES LTD

JUDGEMENT

(1.) THIS is a Bench of four appeals filed under section 260A of the Income Tax Act with respect to the different assessment years, namely, 1998 -99, 1999 -2000, 2000 -01 and 2001 -02.

(2.) THE substantial question of law which arose for consideration is to the effect, whether the assessee, who has not deducted the tax at source, can still be levied penalty under section 272A(2)(g) of the Income Tax Act for not issuing the certificates of tax deducted, as per the requirement of section 203.

(3.) THE Tribunal has further found that there is no dispute to the fact that that the assessee deposited the TDS with the Central Government on 17 -2 -2003 for the assessment year 1998 -99 to assessment year 2000 -01 and on 12 -4 -2003 for the assessment year 2001 -02 and that there was also no dispute that assessee issued the TDS certificates on 21 -2 -2003 for the assessment year 2001 -02, i.e., within a period of 3 days from the date of deposit of TDS with the Central Government.