Delayed Filing of TDS Returns in Form 26Q: Reasonable Cause u/s 273B Grants Penalty Immunity.

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....Penalty u/s 272A(2)(k) - delay in filing of quarterly statements in Form 26Q (TDS return) within the prescribed time - The explanation offered by the assessee would constitute ‘reasonable cause’ within the meaning of section 273B and hence the assessee would be entitled to immunity from the levy of penalty u/s 272A(2)(k).....