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2018 (8) TMI 261 - AT - Income TaxLevy of penalty under clause (k) of sub-section (2) of section 272A read with section 200(3) - whether section 273B of the Act which speaks of 'reasonable cause' for any defaults, does not include clause (k) of sub-section (2) of section 272A? - Held that:- In identical facts of the case in the case of CIT v. Accounts Officer, Telecom [2005 (5) TMI 22 - ALLAHABAD HIGH COURT] held that the delay in filing the prescribed returns are only technical nature and since there is no loss to the Revenue, the default is of only technical nature and the delay due to the ignorance of the appellant was accepted by the hon'ble High Court. Similarly, in the case of CIT (TDS) v. Executive Engineer [2009 (8) TMI 643 - PUNJAB & HARYANA HIGH COURT] and CIT v. Superintending Engineer, PWD [2002 (5) TMI 13 - RAJASTHAN HIGH COURT] in the cases involving identical facts, held to the similar effect. The hon'ble apex court in the case of Hindustan Steel Ltd. v. State of Orissa [1969 (8) TMI 31 - SUPREME COURT] observed that an order imposing penalty for failure to carry out a statutory obligation is the result of a quasi-criminal proceeding and penalty will not ordinarily be imposed unless the party obliged either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligation. The apex court further observed that penalty will not also be imposed merely because it is lawful to do so. The powers are to be exercised judiciously. - Decided in favour of assessee
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