https://www.taxtmi.com/caselaws?id=70162 The ITAT Madras-C held that no penalty was applicable under section 271(1)(c) of the IT Act as the total income of the assessee did not exceed the threshold amount not chargeable to tax. Relying on case law precedents and the interpretation of section 271(3)(a), the Tribunal ruled in favor of the assessee, deleting the penalty imposed for failure to file the income tax return on time. en-us Fri, 07 Jul 1978 00:00:00 +0530 Thu, 14 Apr 2011 16:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70162 The ITAT Madras-C held that no penalty was applicable under section 271(1)(c) of the IT Act as the total income of the assessee did not exceed the threshold amount not chargeable to tax. Relying on case law precedents and the interpretation of section 271(3)(a), the Tribunal ruled in favor of the assessee, deleting the penalty imposed for failure to file the income tax return on time. Case-Laws Income Tax Fri, 07 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70162