https://www.taxtmi.com/caselaws?id=67683 The Income Tax Appellate Tribunal (ITAT) allowed both appeals, canceling the penalties imposed under sections 271(1)(a) and 273 of the IT Act, 1961 for the assessment year 1974-75. The ITAT found reasonable causes for the delay in filing the return and determined that the penalty for not furnishing an estimate of advance tax payable was unjustified due to procedural errors and lack of evidence of intentional wrongdoing by the assessee. en-us Fri, 22 Apr 1977 00:00:00 +0530 Sat, 12 Mar 2011 13:27:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67683 The Income Tax Appellate Tribunal (ITAT) allowed both appeals, canceling the penalties imposed under sections 271(1)(a) and 273 of the IT Act, 1961 for the assessment year 1974-75. The ITAT found reasonable causes for the delay in filing the return and determined that the penalty for not furnishing an estimate of advance tax payable was unjustified due to procedural errors and lack of evidence of intentional wrongdoing by the assessee. Case-Laws Income Tax Fri, 22 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67683