https://www.taxtmi.com/caselaws?id=66281 The Department's appeal was dismissed, and the assessee's cross objection was allowed, affirming the cancellation of the penalty under section 271(1)(a) for the assessment year 1969-70. The Tribunal found that the firm had no taxable income, was not obligated to file a return voluntarily, and the extension application had been submitted within a limited duration. Therefore, the penalty was deemed unjustified and rightfully canceled by the Appellate Assistant Commissioner, a decision upheld by the Tribunal. en-us Mon, 08 Aug 1977 00:00:00 +0530 Wed, 23 Feb 2011 13:04:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66281 The Department's appeal was dismissed, and the assessee's cross objection was allowed, affirming the cancellation of the penalty under section 271(1)(a) for the assessment year 1969-70. The Tribunal found that the firm had no taxable income, was not obligated to file a return voluntarily, and the extension application had been submitted within a limited duration. Therefore, the penalty was deemed unjustified and rightfully canceled by the Appellate Assistant Commissioner, a decision upheld by the Tribunal. Case-Laws Income Tax Mon, 08 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66281