https://www.taxtmi.com/caselaws?id=266121 The Tribunal allowed the appeal of the assessee, condoning the delay in filing the appeal and canceling the penalty imposed under section 272A(2)(k) of the Income-tax Act. The Tribunal considered the genuine belief of the assessee regarding the appeal filing, timely payment of TDS amount, lack of revenue loss, and technical nature of the penalty. It applied section 273B to exempt the assessee from penalty due to reasonable cause and cited a precedent from the Punjab and Haryana High Court to support its decision. en-us Tue, 09 Dec 2014 00:00:00 +0530 Sat, 17 Oct 2015 23:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266121 The Tribunal allowed the appeal of the assessee, condoning the delay in filing the appeal and canceling the penalty imposed under section 272A(2)(k) of the Income-tax Act. The Tribunal considered the genuine belief of the assessee regarding the appeal filing, timely payment of TDS amount, lack of revenue loss, and technical nature of the penalty. It applied section 273B to exempt the assessee from penalty due to reasonable cause and cited a precedent from the Punjab and Haryana High Court to support its decision. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266121