https://www.taxtmi.com/caselaws?id=64330 The appeals by the Revenue against the cancellation of penalties under sections 273(1)(a) and 271(1)(c) of the Income Tax Act for the assessment year 1985-86 were dismissed. The penalties were canceled as the assessee's actions were deemed unintentional without deliberate default or mala fide intent. The Tribunal upheld the decisions of the CIT(A) in both instances, concluding that there was no evidence of knowingly filing incorrect estimates or concealing income. Consequently, the penalties under sections 273(1)(a) and 271(1)(c) were not exigible, and the appeals were unsuccessful. en-us Wed, 25 Jul 2001 00:00:00 +0530 Mon, 07 Feb 2011 11:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64330 The appeals by the Revenue against the cancellation of penalties under sections 273(1)(a) and 271(1)(c) of the Income Tax Act for the assessment year 1985-86 were dismissed. The penalties were canceled as the assessee's actions were deemed unintentional without deliberate default or mala fide intent. The Tribunal upheld the decisions of the CIT(A) in both instances, concluding that there was no evidence of knowingly filing incorrect estimates or concealing income. Consequently, the penalties under sections 273(1)(a) and 271(1)(c) were not exigible, and the appeals were unsuccessful. Case-Laws Income Tax Wed, 25 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64330