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2012 (7) TMI 274 - AT - Income TaxPenalty levied u/s 272A(2)k) - late filing of the returns - CIT(A) deleted the levy - Held that:- The reasons put forth by the assessee i.e. incapacity and absence of the accountant and the director being not aware of the intricacies penalty levied are liable to be deleted. Penalty levied u/s 271C - non-deduction/ short deduction of TDS - CIT(A)deleted the levy - Held that:- The late filing of e-return assumes a character of technical default and delay in filing such return without any loss of revenue cannot be a held a deliberate default looking at the facts and circumstances and pleas raised by the assessee CIT(A) has rightly considered it to be a reasonable cause - in favour of assessee.
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