https://www.taxtmi.com/caselaws?id=66104 The Tribunal canceled penalties under section 271(1)(a) and section 271(1)(c) of the Income-tax Act due to reasonable cause for delay in filing returns and absence of income concealment. The penalties were related to the delay in filing returns on capital gains from land sale. The Tribunal found that the delay was due to legal proceedings and settlement with the department, and the appellants had furnished correct income particulars based on directions from the CIT(A). Consequently, the penalties were annulled, and the appeals were allowed. en-us Thu, 14 Jan 1999 00:00:00 +0530 Mon, 21 Feb 2011 15:19:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66104 The Tribunal canceled penalties under section 271(1)(a) and section 271(1)(c) of the Income-tax Act due to reasonable cause for delay in filing returns and absence of income concealment. The penalties were related to the delay in filing returns on capital gains from land sale. The Tribunal found that the delay was due to legal proceedings and settlement with the department, and the appellants had furnished correct income particulars based on directions from the CIT(A). Consequently, the penalties were annulled, and the appeals were allowed. Case-Laws Income Tax Thu, 14 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66104