https://www.taxtmi.com/caselaws?id=64151 The Tribunal upheld the Appellate Authority's decision to cancel penalties imposed on partners for late filing of returns due to delays in finalizing the firm's accounts. The delay was deemed reasonable, not deliberate or negligent, and partners promptly filed upon receiving their share income. The Revenue's argument that penalties should apply to partners despite firm penalties was rejected, citing precedents emphasizing penalties for deliberate defaults. The Tribunal dismissed the appeals, affirming the cancellation of penalties for partners. en-us Tue, 23 Feb 1982 00:00:00 +0530 Sat, 05 Feb 2011 11:13:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64151 The Tribunal upheld the Appellate Authority's decision to cancel penalties imposed on partners for late filing of returns due to delays in finalizing the firm's accounts. The delay was deemed reasonable, not deliberate or negligent, and partners promptly filed upon receiving their share income. The Revenue's argument that penalties should apply to partners despite firm penalties was rejected, citing precedents emphasizing penalties for deliberate defaults. The Tribunal dismissed the appeals, affirming the cancellation of penalties for partners. Case-Laws Income Tax Tue, 23 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64151