https://www.taxtmi.com/caselaws?id=69098 The tribunal allowed the appeal, canceling the penalty imposed on the assessee under section 273(1)(b) of the Income-tax Act for the assessment year 1988-89. The decision was based on the interpretation that the obligation to file a statement of advance tax arises only when self-assessment tax has been paid, as supported by legal precedents. Since the assessee had not paid self-assessment tax for the relevant year, the income returned for that year could not serve as the basis for imposing the penalty. en-us Tue, 16 Nov 1999 00:00:00 +0530 Tue, 05 Apr 2011 11:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69098 The tribunal allowed the appeal, canceling the penalty imposed on the assessee under section 273(1)(b) of the Income-tax Act for the assessment year 1988-89. The decision was based on the interpretation that the obligation to file a statement of advance tax arises only when self-assessment tax has been paid, as supported by legal precedents. Since the assessee had not paid self-assessment tax for the relevant year, the income returned for that year could not serve as the basis for imposing the penalty. Case-Laws Income Tax Tue, 16 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69098