ITAT deletes Section 272A(2)(k) penalty for delay in filing TDS statement due to lack of Professional assistance

Hi Techno Control System Pvt. Ltd. Vs CIT (ITAT Mumbai) Section 272A(2)(k) of Income Tax Act provides a penalty for failure to deliver or cause to deliver a copy of the statement within the time specified in section 200(3) or the proviso to sub-section 3 of s. 206(c). Sec. 273B of the Act provides that no penalty shall be imposed on the person or the assessee as the case may be for any failure referred to in the said provision if the assessee proves that there was a reasonable cause for the said failure. It is an admitted fact that the assessee deducted tax on time and deposited with the Reven...