https://www.taxtmi.com/caselaws?id=205323 The High Court of Calcutta upheld the penalty imposed by the Tribunal for failure to file a return due to ignorance of the law but reduced it from Rs. 2,08,709 to Rs. 1 lac considering the petitioner's bonafide intention and acknowledgment of the error. The Court emphasized the importance of compliance with legal obligations despite lack of awareness and reinstated the order with the revised penalty amount. The judgment highlighted the petitioner's demonstration of bonafideness as a mitigating factor and disposed of the appeal and application based on the revised penalty terms. en-us Wed, 28 Nov 2007 00:00:00 +0530 Wed, 31 Aug 2011 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205323 The High Court of Calcutta upheld the penalty imposed by the Tribunal for failure to file a return due to ignorance of the law but reduced it from Rs. 2,08,709 to Rs. 1 lac considering the petitioner's bonafide intention and acknowledgment of the error. The Court emphasized the importance of compliance with legal obligations despite lack of awareness and reinstated the order with the revised penalty amount. The judgment highlighted the petitioner's demonstration of bonafideness as a mitigating factor and disposed of the appeal and application based on the revised penalty terms. Case-Laws Central Excise Wed, 28 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205323