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of <h1>Cancellation of Penalty under Section 273(a) for AY 1968-69 due to Assessee's Bonafide Estimate</h1> The penalty under s. 273(a) for the asst. yr. 1968-69 was canceled as the assessee's estimate was deemed bonafide and supported by material. The appeal ... - The appeal was against a penalty under s. 273(a) for the asst. yr. 1968-69. The assessee's estimate was found to be bonafide, supported by material. Penalty was canceled. Appellate Tribunal: ITAT MADRAS-A. Members: P. Venugopal, O. V. Subramanian.
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