https://www.taxtmi.com/caselaws?id=62786 The penalty imposed under section 285A(2) for delay in furnishing information in Form No. 52 was contested by the assessee. The Tribunal reduced the penalty to Rs. 1.65 per day till the date of filing the return for the assessment year, providing relief to the assessee. The Accountant Member deemed the penalty unjustified due to the complexity of tax laws, lack of professional assistance, and the assessee's ignorance as a new contractor. The Third Member ultimately concluded that no fine was imposable, considering the circumstances of the case and ordered the deletion of the penalty. en-us Tue, 30 Nov 1982 00:00:00 +0530 Fri, 21 Jan 2011 17:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62786 The penalty imposed under section 285A(2) for delay in furnishing information in Form No. 52 was contested by the assessee. The Tribunal reduced the penalty to Rs. 1.65 per day till the date of filing the return for the assessment year, providing relief to the assessee. The Accountant Member deemed the penalty unjustified due to the complexity of tax laws, lack of professional assistance, and the assessee's ignorance as a new contractor. The Third Member ultimately concluded that no fine was imposable, considering the circumstances of the case and ordered the deletion of the penalty. Case-Laws Income Tax Tue, 30 Nov 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62786