https://www.taxtmi.com/caselaws?id=69674 The Tribunal upheld the AAC's decision to cancel the penalty imposed under section 273(c) of the Income Tax Act, 1961 for the assessment year 1970-71. The Tribunal found that the assessee had a reasonable cause for not filing an estimate under section 212(3A) due to her belief that her share income would not exceed Rs. 23,000. The Tribunal emphasized that the penalty for failure to file an estimate must be without reasonable cause and dismissed the Revenue's appeal, affirming the cancellation of the penalty. en-us Tue, 25 May 1976 00:00:00 +0530 Mon, 11 Apr 2011 13:53:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69674 The Tribunal upheld the AAC's decision to cancel the penalty imposed under section 273(c) of the Income Tax Act, 1961 for the assessment year 1970-71. The Tribunal found that the assessee had a reasonable cause for not filing an estimate under section 212(3A) due to her belief that her share income would not exceed Rs. 23,000. The Tribunal emphasized that the penalty for failure to file an estimate must be without reasonable cause and dismissed the Revenue's appeal, affirming the cancellation of the penalty. Case-Laws Income Tax Tue, 25 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69674