https://www.taxtmi.com/caselaws?id=69777 The Tribunal canceled the penalty imposed under section 140A(3) of the Income Tax Act, 1961 for the assessment year 1976-77. The penalty of Rs. 8,445 was levied due to non-payment of tax at the time of filing the return, despite the assessee's financial constraints. The Tribunal found the assessee's inability to pay the tax in a lump sum justified, as evidenced by the permission to pay in installments granted by the Income Tax Appellate Commissioner. Consequently, the penalty was deemed unjustified, canceled, and the appeal was allowed. en-us Fri, 25 Jan 1980 00:00:00 +0530 Tue, 12 Apr 2011 10:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69777 The Tribunal canceled the penalty imposed under section 140A(3) of the Income Tax Act, 1961 for the assessment year 1976-77. The penalty of Rs. 8,445 was levied due to non-payment of tax at the time of filing the return, despite the assessee's financial constraints. The Tribunal found the assessee's inability to pay the tax in a lump sum justified, as evidenced by the permission to pay in installments granted by the Income Tax Appellate Commissioner. Consequently, the penalty was deemed unjustified, canceled, and the appeal was allowed. Case-Laws Income Tax Fri, 25 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69777