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2011 (5) TMI 831 - AT - Income TaxPenalty u/s 272A - failure to file quarterly TDS returns within prescribed time - Held that:- There is no dispute that the quarterly statements were filed late by certain days, and that the tax was deducted and was paid to the credit of Government in time. However, quarterly statements could not be filed for the reasons which were beyond the control of the assessee. The act of the assessee cannot be said to be intentional or wilful and therefore, penalty should not have been imposed because the assessee was prevented by sufficient cause. It is seen that the non-filing of the quarterly statements does not involve any revenue loss and is a mere technical default. Thus, when there is a technical or venial breach of the provisions of the Act or where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute, no justification in imposing the penalty u/s 272A(2)(k) - Decided in favor of assessee.
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