https://www.taxtmi.com/caselaws?id=207302 The court partially allowed the petition, modifying the penalty imposed under section 271FA of the Income-tax Act, 1961. It acknowledged a reasonable cause for the petitioner's unawareness of statutory obligations until the notice served on December 17, 2008. The penalty was to be recalculated from that date at Rs. 100 per day of default. The matter was remitted for penalty computation, with the rule made absolute to this extent and no order as to costs. en-us Fri, 04 Mar 2011 00:00:00 +0530 Sat, 15 Dec 2012 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207302 The court partially allowed the petition, modifying the penalty imposed under section 271FA of the Income-tax Act, 1961. It acknowledged a reasonable cause for the petitioner's unawareness of statutory obligations until the notice served on December 17, 2008. The penalty was to be recalculated from that date at Rs. 100 per day of default. The matter was remitted for penalty computation, with the rule made absolute to this extent and no order as to costs. Case-Laws Income Tax Fri, 04 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207302