https://www.taxtmi.com/caselaws?id=64099 The Tribunal dismissed the appeals regarding penalties imposed on a registered firm for failure to file income tax returns and estimate advance tax within the prescribed time. The penalties under sections 271(1)(a) and 273(b) were canceled during fresh assessment proceedings as they were deemed time-barred and lacking a legal basis. Despite the Departmental Representative's arguments, the Tribunal upheld the assessee's position, ruling that the penalties imposed by the assessing officer were invalid due to exceeding the limitation period. en-us Wed, 05 Feb 1975 00:00:00 +0530 Thu, 03 Feb 2011 18:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64099 The Tribunal dismissed the appeals regarding penalties imposed on a registered firm for failure to file income tax returns and estimate advance tax within the prescribed time. The penalties under sections 271(1)(a) and 273(b) were canceled during fresh assessment proceedings as they were deemed time-barred and lacking a legal basis. Despite the Departmental Representative's arguments, the Tribunal upheld the assessee's position, ruling that the penalties imposed by the assessing officer were invalid due to exceeding the limitation period. Case-Laws Income Tax Wed, 05 Feb 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64099