https://www.taxtmi.com/caselaws?id=383002 The Tribunal overturned the penalty imposed under section 272A(2)(k) of the Income Tax Act, 1961 on the assessee for delayed filing of quarterly TDS statements. The Tribunal accepted the reasonable cause for the delay due to the serious illness of the accountant, considering it a valid explanation under Section 273B of the Act. Despite non-compliance with statutory obligations, the Tribunal emphasized the importance of providing the assessee with an opportunity to explain the delay, ultimately deleting the penalty based on judicial discretion and relevant circumstances. en-us Wed, 19 Jun 2019 00:00:00 +0530 Sun, 14 Jul 2019 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383002 The Tribunal overturned the penalty imposed under section 272A(2)(k) of the Income Tax Act, 1961 on the assessee for delayed filing of quarterly TDS statements. The Tribunal accepted the reasonable cause for the delay due to the serious illness of the accountant, considering it a valid explanation under Section 273B of the Act. Despite non-compliance with statutory obligations, the Tribunal emphasized the importance of providing the assessee with an opportunity to explain the delay, ultimately deleting the penalty based on judicial discretion and relevant circumstances. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383002