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2015 (10) TMI 1396 - AT - Income TaxPenalty under section 272(2)(k) - assessee has failed to file e-TDS returns for first and second quarter with delay of 252 days and 160 days - Held that:- In this case, the assessee explained that there was a reasonable cause for failure to comply with the requirement because it was not aware of the fact that a return was to be filed at the branch level. It is admitted fact that the TDS amount was deducted on time and paid to the Revenue Department and the necessary return was also filed later on, therefore, no loss of revenue had occurred on account of late filing of the return. Thus, the penalty was merely technical in nature because the Revenue has not suffered any loss on account of late filing of the return. The issue, therefore, would be covered by the decision of the hon'ble Punjab and Haryana High Court in the case of H.M. T. Ltd. Tractors Division v. CIT [2004 (8) TMI 50 - PUNJAB AND HARYANA High Court] - Decided in favour of assessee.
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