https://www.taxtmi.com/caselaws?id=70477 The Tribunal dismissed the revenue's appeal against the penalty imposition for non-payment of self-assessment tax for the assessment year 1978-79. The Commissioner canceled the penalty citing lack of liquid resources as a reasonable cause for non-payment, considering the assessee's financial constraints and past efforts to clear arrears. The Tribunal upheld this decision, emphasizing the lack of willful default and reasonableness of the lack of liquid resources claim, ultimately leading to the dismissal of the revenue's appeal. en-us Tue, 15 Sep 1987 00:00:00 +0530 Sat, 16 Apr 2011 13:29:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70477 The Tribunal dismissed the revenue's appeal against the penalty imposition for non-payment of self-assessment tax for the assessment year 1978-79. The Commissioner canceled the penalty citing lack of liquid resources as a reasonable cause for non-payment, considering the assessee's financial constraints and past efforts to clear arrears. The Tribunal upheld this decision, emphasizing the lack of willful default and reasonableness of the lack of liquid resources claim, ultimately leading to the dismissal of the revenue's appeal. Case-Laws Wealth-tax Tue, 15 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70477