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2021 (5) TMI 584 - AT - Income TaxLevying penalty u/s. 272A(2)(k) - Filing the return belatedly - HELD THAT:- As considered judicial precedents placed on record. In this case penalty has been levied u/s. 272A(2)(k) of the Act due to late filing of TDS statements/returns. However, it is an undisputed fact as admitted by the parties herein, that no loss has been caused to the Revenue by the action of the assessee. There may have been procedural lapse on the part of the assessee however, due to such procedural lapse no prejudice has been caused to the Revenue. This fact has also been admitted by the Ld. DR.The provisions of Section 272A(2)(k) are subject to provisions of section 273B of the Act and hence, the relevance of reasonable cause has to be established. Jaipur Bench of the Tribunal in the case of Argus Golden Trades India Ltd. [2017 (6) TMI 234 - ITAT JAIPUR] and Punjab National Bank [2011 (5) TMI 831 - ITAT LUCKNOW] has deleted the penalty levied u/s.272A(2)(k) of the Act. Similarly, Delhi Bench of the Tribunal in the case of Haryana Distillery Ltd. Vs. Joint Commissioner of Income Tax [2018 (9) TMI 289 - ITAT DELHI] the question arose whether since on filing belated returns/statements, Revenue had not suffered any loss because tax deducted was already deposited on time and there was mere technical or venial breach to provisions contained in Act for submitting return/statements of TDS. Therefore, penalty was not to be levied and question was answered in favour of the assessee.
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