Penalty for Late TDS Statement Submission Invalidated: No TDS Deducted or Payable, Form 26Q Submission Not Required.

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....Penalty u/s 272A(2)(k) - delay in submitting the quarterly TDS Statement in Form 26Q - Once the assessee has stated on the affidavit and given an undertaking that the assessee has not paid any amount or deducted any TDS on any sum during these assessment years which requires to submit in Form 26Q, the levy of penalty for default of delivering the From 26Q is invalid and consequently the penalty order passed by the AO is bad in law, ab initio. - AT....