https://www.taxtmi.com/caselaws?id=192339 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 272A(2)(k) of the Income Tax Act. The Tribunal considered the appellant's financial constraints and shortage of staff as reasonable causes for the delay in filing the TDS statement. Emphasizing the timely deposit of the TDS amount with interest and no loss to revenue, the Tribunal found the penalty unjustified and deleted it. Additionally, the Tribunal recognized the applicability of Section 273B, exempting penalties for reasonable causes of default, further supporting the decision to overturn the penalty. en-us Fri, 01 Jan 2016 00:00:00 +0530 Mon, 08 Aug 2022 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192339 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 272A(2)(k) of the Income Tax Act. The Tribunal considered the appellant's financial constraints and shortage of staff as reasonable causes for the delay in filing the TDS statement. Emphasizing the timely deposit of the TDS amount with interest and no loss to revenue, the Tribunal found the penalty unjustified and deleted it. Additionally, the Tribunal recognized the applicability of Section 273B, exempting penalties for reasonable causes of default, further supporting the decision to overturn the penalty. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192339