Non-availability of PAN of payee-customer was a reasonable cause for belated filing of TDS return; penalty deleted

Section 272A of the Income-tax Act, 1961 - Penalty - For failure to answer question, sign statements, etc. [Delay in filing e-TDS return] - Assessment year 2009-10 - There was a delay of 848 days in first quarter, 756 days in second quarter, 664 days in third quarter and 513 days in fourth quarter of financial year 2008-09 on part of assessee-bank in filing e-TDS return - Assessing Officer imposed penalty upon assessee - Assessee explained that section 272A(2)(k) being a new provision, branch manager was not known to its technical formalities; that thereafter, bank engaged an advocate for preparing statement, who found difficulty in completing detailed statement in absence of PAN of all customers and that, therefore, there was delay in filing e-TDS return - Whether assessee had reasonable cause for non-filing of return in time and, therefore, penalty imposed by Assessing Officer was to be deleted - Held, yes [Para 8] [In favour of assessee]

Refer:[2014] 41 taxmann.com 268 (Cuttack - Trib.)
IN THE ITAT CUTTACK BENCH
Branch Manager, State Bank of India
                              v.
Additional Commissioner of Income-tax, (TDS)