https://www.taxtmi.com/caselaws?id=178434 Penalty for delayed filing of quarterly TDS statements was examined in light of reasonable cause under section 273B. Although tax had been deducted and deposited within time, the statements in Forms 24Q and 26Q were filed late, creating a default under section 272A(2)(k). On the facts, the Tribunal accepted that the assessee lacked awareness of the filing requirement, the Revenue showed no prior knowledge or revenue loss, and the breach was technical or venial. The explanation was treated as reasonable cause, so the penalty was held not leviable and the deletion of penalty was upheld. en-us Fri, 08 Jan 2010 00:00:00 +0530 Mon, 18 Sep 2023 22:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178434 Penalty for delayed filing of quarterly TDS statements was examined in light of reasonable cause under section 273B. Although tax had been deducted and deposited within time, the statements in Forms 24Q and 26Q were filed late, creating a default under section 272A(2)(k). On the facts, the Tribunal accepted that the assessee lacked awareness of the filing requirement, the Revenue showed no prior knowledge or revenue loss, and the breach was technical or venial. The explanation was treated as reasonable cause, so the penalty was held not leviable and the deletion of penalty was upheld. Case-Laws Income Tax Fri, 08 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178434