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2016 (1) TMI 1288 - AT - Income TaxPenalty u/s 272A(2)(k) - delay caused in filing TDS statement - as per assessee delay is due to acute shortage of funds coupled with inadequate staff and facilities - Held that:- Sec.273B of the Act lays down that the penalty shall not be imposed in respect of a default relating to the provisions mentioned therein if the person or the assessee concerned can show that there was a reasonable cause for default in question. Section 272A(2)(k) falls within the ambit of sec.273B of the Act. It is observed that the AO has levied the penalty in a routine manner without bringing the facts on record to establish that the appellant committed the default without a reasonable cause. - Decided in favour of assessee.
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