https://www.taxtmi.com/caselaws?id=65967 The Tribunal upheld penalties imposed on a printing and stationery firm for non-payment of self-assessment tax, despite the firm's claim of financial difficulties. The Tribunal found the firm's explanation unconvincing, considering available cash balances and lack of evidence of capital blockage. It concluded that the partners' potential resources and absence of insurmountable obstacles did not justify non-payment. The Tribunal dismissed the appeals, emphasizing that while financial difficulties could be a valid defense in some cases, it was not acceptable in this instance due to insufficient evidence and delayed tax payment initiation. en-us Wed, 29 Feb 1984 00:00:00 +0530 Sat, 19 Feb 2011 15:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65967 The Tribunal upheld penalties imposed on a printing and stationery firm for non-payment of self-assessment tax, despite the firm's claim of financial difficulties. The Tribunal found the firm's explanation unconvincing, considering available cash balances and lack of evidence of capital blockage. It concluded that the partners' potential resources and absence of insurmountable obstacles did not justify non-payment. The Tribunal dismissed the appeals, emphasizing that while financial difficulties could be a valid defense in some cases, it was not acceptable in this instance due to insufficient evidence and delayed tax payment initiation. Case-Laws Income Tax Wed, 29 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65967