Penalty U/s. 272A (2)(k) cannot be imposed for a mere technical venial breach

New India Assurance Co. Ltd. Vs JCIT (ITAT Kolkata) We find that the fact of change of software from ‘Genesis’ to ‘CWISS’ Module by the assessee has not been disputed by the revenue in the instant case. It is quite natural that change of software would lead to various teething troubles which need to be addressed and plugged at the initial stage itself, so that the new Module could function smoothly later on. It is well known that migration to a new software would certainly result in lot of issues on accounting, accounting heads, etc which consumes considerable time for addressing the s...