https://www.taxtmi.com/caselaws?id=441353 The Tribunal found that no penalty was justified for the delay in filing quarterly TDS statements under section 272A(2)(k) of the Income Tax Act. The delay was deemed technical in nature, with TDS amounts deposited on time, and did not result in revenue loss. The Tribunal emphasized the need to consider genuine difficulties faced by taxpayers, citing precedents from High Courts. Consequently, the appeal of the assessee, a partnership firm engaged in works contractorship/commission, was allowed, overturning the penalty imposed by the Additional CIT and confirmed by the CIT(A). en-us Thu, 03 Aug 2023 00:00:00 +0530 Sat, 05 Aug 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441353 The Tribunal found that no penalty was justified for the delay in filing quarterly TDS statements under section 272A(2)(k) of the Income Tax Act. The delay was deemed technical in nature, with TDS amounts deposited on time, and did not result in revenue loss. The Tribunal emphasized the need to consider genuine difficulties faced by taxpayers, citing precedents from High Courts. Consequently, the appeal of the assessee, a partnership firm engaged in works contractorship/commission, was allowed, overturning the penalty imposed by the Additional CIT and confirmed by the CIT(A). Case-Laws Income Tax Thu, 03 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441353