https://www.taxtmi.com/caselaws?id=56242 Penalty under section 272A(2)(c) for delayed filing of Form No. 26 was treated as unwarranted where tax was deducted and deposited in time, the default arose from reasonable cause, and no revenue loss was shown. The analysis notes that the TDS reporting requirement was newly introduced for the relevant year, the assessee's accountant could plausibly have been unaware of the filing timeline, and there was no material showing disregard of advice from the regular tax consultant. On this basis, the penalty was held to be not sustainable and was cancelled. en-us Fri, 20 Aug 1999 00:00:00 +0530 Thu, 02 Dec 2010 16:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56242 Penalty under section 272A(2)(c) for delayed filing of Form No. 26 was treated as unwarranted where tax was deducted and deposited in time, the default arose from reasonable cause, and no revenue loss was shown. The analysis notes that the TDS reporting requirement was newly introduced for the relevant year, the assessee's accountant could plausibly have been unaware of the filing timeline, and there was no material showing disregard of advice from the regular tax consultant. On this basis, the penalty was held to be not sustainable and was cancelled. Case-Laws Income Tax Fri, 20 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56242