Penalty not leviable for late filing of TDS return on reasonable cause shown

Corrtech International Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) ITAT Ahmedabad held that there was delay in filing statement in Form 24Q/ 26Q due to heavy loss incurred by assessee. However, the same was filed before issuance of show cause notice and late payment of TDS was done along with interest. Hence, it shows that there was no mala fide intention on the part of the assessee for late filing of TDS return and hence penalty not leviable. Facts- AO levied penalty of Rs. 1,38,600/- U/s 272A(2)(g) of the Act on the count that assessee failed to file statements in Form 24Q / 26Q for F/Y. 2013-14 with...