https://www.taxtmi.com/caselaws?id=68586 The Tribunal allowed all three appeals by the assessee, ruling in favor of the assessee against the penalties imposed under sections 271(1)(a), 273(1)(b), and 271(1)(c) for the assessment year 1985-86. The penalties under s. 271(1)(a) and s. 273(1)(b) were not justified due to reasonable causes for the delays and the income being below the taxable limit. Additionally, the penalty under s. 271(1)(c) was deleted as the additions made by the AO were based on estimates and did not conclusively show concealment of income or furnishing inaccurate particulars. en-us Fri, 06 Jan 2006 00:00:00 +0530 Mon, 02 Jul 2012 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68586 The Tribunal allowed all three appeals by the assessee, ruling in favor of the assessee against the penalties imposed under sections 271(1)(a), 273(1)(b), and 271(1)(c) for the assessment year 1985-86. The penalties under s. 271(1)(a) and s. 273(1)(b) were not justified due to reasonable causes for the delays and the income being below the taxable limit. Additionally, the penalty under s. 271(1)(c) was deleted as the additions made by the AO were based on estimates and did not conclusively show concealment of income or furnishing inaccurate particulars. Case-Laws Income Tax Fri, 06 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68586