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Trust Penalized for Late Filing u/s 272A(2)(e); No Discretion for Waiver Despite Reasonable Cause.

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....Penalty u/s 272A(2)(e) - return was not filed within due date prescribed u/s 139(4A) following the advice given by the Accounts Manger of the trust - The Act does not confer any discretion on the AO not to levy penalty in case reasonable cause is shown to exist - Penalty confirmed.....

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Trust Penalized for Late Filing u/s 272A(2)(e); No Discretion for Waiver Despite Reasonable Cause.