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2016 (11) TMI 250 - AT - Income TaxPenalty u/s 272A (2)(k) - delay in is furnishing return of tds - Held that:- We have seen that before levying the penalty neither the ACIT/AO nor the Commissioner (Appeal) while deciding the appeal of the assessee made any observation that the assessee acted deliberately in defiance of law or was guilty by the act of his conduct. As per our considered opinion while levying the penalty the authority must record its satisfaction that the act of the assessee was deliberate and was not condonable. In the present case neither the order of AO nor ld. Commissioner (Appeals) order revealed that the act of assessee was deliberate or in defiance of law or the assessee is guilty of her conduct. We noticed that there is no reference in the order of penalty that there was any wilful negligence or magnified on the part of assessee in the matter of filing return of TDS. Having considered the entirety of the fact, moreover the assessee has not taken any lame excuse while furnishing the reply to the notice of initiation of penalty. She had voluntarily filed return before issuance of the notice for initiation of penalty. In our considered opinion that it is a fit case for deleting the penalty as the assessee came forward with honesty. However, the observation made hereinabove may not be precedent for future references. With these observations we delete the penalty for all three assessment years by accepting appeal of the assessee.
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