https://www.taxtmi.com/caselaws?id=71850 The Tribunal canceled the penalty imposed under section 221 for delayed tax payment, citing the appellant's financial constraints due to investments, subsequent tax payments, and loans raised to clear dues. Emphasizing legitimate expectations in decision-making, the Tribunal found lower authorities' decisions arbitrary, leading to the penalty's cancellation. The case underscores fair treatment and non-arbitrary exercise of power in public law matters, recognizing the appellant's genuine financial challenges and cooperation with tax authorities. en-us Fri, 20 Apr 2001 00:00:00 +0530 Wed, 27 Apr 2011 13:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71850 The Tribunal canceled the penalty imposed under section 221 for delayed tax payment, citing the appellant's financial constraints due to investments, subsequent tax payments, and loans raised to clear dues. Emphasizing legitimate expectations in decision-making, the Tribunal found lower authorities' decisions arbitrary, leading to the penalty's cancellation. The case underscores fair treatment and non-arbitrary exercise of power in public law matters, recognizing the appellant's genuine financial challenges and cooperation with tax authorities. Case-Laws Income Tax Fri, 20 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71850