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2019 (7) TMI 698 - AT - Income TaxPenalty u/s 272A(2)(k) /274 - delay in submitting quarterly returns in Form no. 26Q for Quarter-3 and Qtr-4 - proof of sufficient reasons for delay - bonafide belief - HELD THAT:- We note that the assessee was not given reasonable opportunity by the Assessing Officer to explain the delay in filing quarterly returns in form no. 26Q. We note that the assessee has submitted documentary evidence in support of serious illness of the accountant of the assessee who was bed ridden for considerable period of time who used to look after the entire accounts and TDS compliance and no new accountant could be appointed because suitable candidate was not available in the market therefore the delay in filing the form 26Q has occurred. Assessee has explained satisfactorily the reason of not filing the return in form 26Q for quarter-3 and quarter-4, we consider that because of serious illness of the accountant of the assessee the return in form 26Q has not been filed in time and circumstances was beyond the control of the assessee, hence it is sufficient and reasonable cause as per section 273B of the Act. See Hindustan Steel Ltd. [1969 (8) TMI 31 - Supreme Court] - Decided in favour of assessee.
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