https://www.taxtmi.com/caselaws?id=61723 The Appellate Tribunal ITAT Cochin considered the validity of an estimate filed by the assessee for advance tax, which was filed late, leading to a penalty under section 273(b) of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, citing legal precedents and emphasizing that the delay in filing the estimate did not constitute deliberate defiance of the law. Therefore, the Tribunal canceled the penalty imposed by the Income Tax Officer, concluding that the assessee was not liable for penalty under section 273(b. en-us Mon, 17 May 1982 00:00:00 +0530 Fri, 14 Jan 2011 15:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61723 The Appellate Tribunal ITAT Cochin considered the validity of an estimate filed by the assessee for advance tax, which was filed late, leading to a penalty under section 273(b) of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, citing legal precedents and emphasizing that the delay in filing the estimate did not constitute deliberate defiance of the law. Therefore, the Tribunal canceled the penalty imposed by the Income Tax Officer, concluding that the assessee was not liable for penalty under section 273(b. Case-Laws Income Tax Mon, 17 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61723