https://www.taxtmi.com/caselaws?id=360375 The ITAT Kolkata allowed the appeal, overturning the penalty imposed under section 272A(2)(k) of the Income Tax Act. The change in software causing delays in filing TDS statements was considered a reasonable cause beyond the assessee's control. The ITAT recognized the genuine challenges faced, the absence of financial loss to the government, and the technical nature of the delay. The ruling emphasized the importance of considering genuine reasons for compliance delays, particularly when external factors contribute, ensuring penalties are imposed judiciously in line with the Act. en-us Wed, 04 Apr 2018 00:00:00 +0530 Wed, 16 May 2018 06:44:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360375 The ITAT Kolkata allowed the appeal, overturning the penalty imposed under section 272A(2)(k) of the Income Tax Act. The change in software causing delays in filing TDS statements was considered a reasonable cause beyond the assessee's control. The ITAT recognized the genuine challenges faced, the absence of financial loss to the government, and the technical nature of the delay. The ruling emphasized the importance of considering genuine reasons for compliance delays, particularly when external factors contribute, ensuring penalties are imposed judiciously in line with the Act. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360375