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2018 (7) TMI 117 - AT - Income TaxLevying penalty u/s 272A(2)(k) - Held that:- Appellant has deposited TDS along with interest. Thus, it has compensated Govt. for late payment of TDS ensuring no loss to the revenue. In case there is no loss to the revenue, then penalty u/s 272A(2) cannot be levied Sec.273B of the Act lays down that the penalty shall not be imposed in respect of a default relating to the provisions mentioned therein if the person or the assessee concerned can show that there was a reasonable cause for default in question. Section 272A(2)(k) falls within the ambit of sec.273B of the Act. It is observed that the AO has levied the penalty in a routine manner without bringing the facts on record to establish that the appellant committed the default without a reasonable cause. - Decided in favour of assessee.
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