The delay in filing of TDS returns was due to the paucity of funds with the assesses
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under section 272(2)(k) of the Income Tax Act, 1961 as Tax Deduction at Source ( TDS ) filing was delayed due to paucity of funds, with interest duly paid. The assessee had explained that the delay in filing of TDS…
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