https://www.taxtmi.com/caselaws?id=68256 The tribunal partially allowed four appeals against penalties imposed under section 140A(3) for tax payment delays. The penalties were initially reduced by the AAC. Issues included the initiation of proceedings, paucity of funds defense, ultra vires of section 140A, bona fide belief, and taxes paid before penalties. The tribunal considered mitigating factors, such as health issues, and recalculated penalties based on actual default periods, ultimately deeming the penalties excessive and reducing them. en-us Wed, 14 Jul 1982 00:00:00 +0530 Mon, 28 Mar 2011 16:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68256 The tribunal partially allowed four appeals against penalties imposed under section 140A(3) for tax payment delays. The penalties were initially reduced by the AAC. Issues included the initiation of proceedings, paucity of funds defense, ultra vires of section 140A, bona fide belief, and taxes paid before penalties. The tribunal considered mitigating factors, such as health issues, and recalculated penalties based on actual default periods, ultimately deeming the penalties excessive and reducing them. Case-Laws Income Tax Wed, 14 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68256