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2012 (11) TMI 459 - AT - Income TaxPenalty for failure to submit returns or statements in time - reasonable cause - No notice issued for default under section 272A (2) (k) - Held that:- There is mistake in notice as regards mentioning of clause (2) of section 272A of the Act is covered by section 292BB which provides that where an assessee has appeared in any proceeding or co-operated in any enquiry relating to an assessment or reassessment, it shall be deemed that any notice under any provision of this Act which is required to be served upon him, has been duly served upon him in time in accordance with the provisions of this Act and such case shall be precluded from taking any objection in any proceeding or enquiry under this Act that the notice was not served upon him or not served upon him in time or served upon him in an improper manner - confirm the order of the CIT(A) upholding validity of impugned proceedings on the strength of notice issued under section 272A(2)(c) - against assessee. No provision in the Act for issuing separate notice for levy of penalty under section 272A(2) for late or non-filing of form 24Q and 26Q - against assessee. Penalty - reasonable cause - As decided in Royal Metal Printers (P) Ltd. Versus ACIT [2010 (1) TMI 938 - ITAT, MUMBAI] the delay in filing the returns, even if they are characterized as negligence on the part of the assessee, can only be considered as a technical or venial breach of law for which penalty should not be levied automatically. In the present case the requirement of filing form 24Q was new one for the assessee and as being the first year of filing such return, thus there is no dispute about the fact that the tax has been deducted by the assessee, there was reasonable cause for delay in filing of returns - penalty cancelled - in favour of assessee.
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