https://www.taxtmi.com/caselaws?id=61577 The ITAT allowed the appeals, deleting the penalty imposed by the CIT under section 272A(2)(f) of the IT Act. The ITAT found the default to be technical, with the assessee having a genuine belief regarding the submission requirements of Form No. 15H. The decision was based on the principle that penalties for statutory obligations should be judiciously imposed, especially in cases of technical breaches or genuine non-liability beliefs. The appeals for the assessment year 1998-99 were also allowed based on similar reasoning. en-us Tue, 29 Jun 2004 00:00:00 +0530 Thu, 13 Jan 2011 13:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61577 The ITAT allowed the appeals, deleting the penalty imposed by the CIT under section 272A(2)(f) of the IT Act. The ITAT found the default to be technical, with the assessee having a genuine belief regarding the submission requirements of Form No. 15H. The decision was based on the principle that penalties for statutory obligations should be judiciously imposed, especially in cases of technical breaches or genuine non-liability beliefs. The appeals for the assessment year 1998-99 were also allowed based on similar reasoning. Case-Laws Income Tax Tue, 29 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61577