Tribunal held that; since on filing belated returns/statements, revenue had not suffered any loss because tax deducted was already deposited on time and there was mere a technical or venial breach to provisions contained in Act for submitting return/statement of TDS, penalty was not to be levied.(AY. 2010-11)
Haryana Distillery Ltd. v. JCIT (2018) 172 ITD 532 (Delhi)(Trib.)
S. 272A : Penalty – Failure to answer questions – Sign statements – Furnish information -Business of production of potable country liquor/Alcohol -Belated TDS returns-TDS was deposited on time- Belated return was due to reasonable cause and revenue has not suffered any loss- Levy of penalty is held to be not justified. [S. 206, 273B, 276BB]