What if TDS is not deducted on rent? on exhibition bill

Expenditure incurred as rent of  booking of space for participation in exhibition is liable to deduct TDS u/s 94I if rent amount is exceeds prescribed limit. If TDS not deducted, the expenditure will be disallowed.

expenditure will be disallowed

how much % or total

 

1. If you are running a business disallowance to the extent of 30% of the expenses under sec 40(a)(ia) will be attracted. 
2. Upon payment, 1% p.m will be payable on the amount of TDS which is required to be deducted until the time TDS was deducted and a penalty equal to the amount of tax which is required to be deducted will be livable by the Joint Commissioner (sec 271C). 
Please correct me if the above solution has an alternative view.