https://www.taxtmi.com/caselaws?id=187001 The Tribunal deleted the penalty imposed under section 271B of the Act on a firm for the delay in filing its income tax return for the assessment year 2006-07. The delay was attributed to various factors such as the sudden demise of a partner, partners' travel, and firm reconstitution, leading to cascading effects from previous years. The Tribunal found no deliberate or intentional inaction by the firm and exercised discretionary leniency, overturning the penalty upheld by the CIT(A) in the interest of justice. en-us Fri, 20 Aug 2010 00:00:00 +0530 Thu, 06 Oct 2016 13:05:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187001 The Tribunal deleted the penalty imposed under section 271B of the Act on a firm for the delay in filing its income tax return for the assessment year 2006-07. The delay was attributed to various factors such as the sudden demise of a partner, partners' travel, and firm reconstitution, leading to cascading effects from previous years. The Tribunal found no deliberate or intentional inaction by the firm and exercised discretionary leniency, overturning the penalty upheld by the CIT(A) in the interest of justice. Case-Laws Income Tax Fri, 20 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187001