Tribunal Waives Penalty for First-Time TDS Filing Default Due to Lack of Technical Knowledge and Infrastructure.

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....Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of infrastructure and the first time default on the part of the assessee was accepted by the Tribunal as a reasonable cause. The provisions of section 273B provides that no penalty shall be imposable on a person or the assessee inter alia u/s 272A (2) for any failure if he explain that there was a reasonable cause for such failure. - AT....