https://www.taxtmi.com/caselaws?id=61871 The Appellate Tribunal upheld the decision of the CIT (Appeals) to cancel the penalty imposed under section 273(2)(a) of the Income-tax Act, 1961 for the assessment year 1982-83. The Tribunal found that the penalty was not justified as the assessee had complied with advance tax estimation requirements and provided a reasonable explanation for discrepancies in income and tax payable figures. Additionally, the Tribunal noted defects in the notice issued by the revenue and rejected the conversion of the penalty under section 273(2)(aa), ultimately dismissing the revenue's appeal. en-us Wed, 08 Jun 1994 00:00:00 +0530 Sat, 15 Jan 2011 17:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61871 The Appellate Tribunal upheld the decision of the CIT (Appeals) to cancel the penalty imposed under section 273(2)(a) of the Income-tax Act, 1961 for the assessment year 1982-83. The Tribunal found that the penalty was not justified as the assessee had complied with advance tax estimation requirements and provided a reasonable explanation for discrepancies in income and tax payable figures. Additionally, the Tribunal noted defects in the notice issued by the revenue and rejected the conversion of the penalty under section 273(2)(aa), ultimately dismissing the revenue's appeal. Case-Laws Income Tax Wed, 08 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61871