https://www.taxtmi.com/caselaws?id=189051 The High Court upheld the Tribunal's decision to cancel the penalty under section 271B for the assessment years 1986-87 and 1987-88. The Court emphasized the importance of considering reasonable causes for delays in compliance with tax laws and highlighted the significance of section 273B in determining the applicability of penalties under section 271B. en-us Thu, 25 Nov 1999 00:00:00 +0530 Mon, 26 Dec 2016 18:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189051 The High Court upheld the Tribunal's decision to cancel the penalty under section 271B for the assessment years 1986-87 and 1987-88. The Court emphasized the importance of considering reasonable causes for delays in compliance with tax laws and highlighted the significance of section 273B in determining the applicability of penalties under section 271B. Case-Laws Income Tax Thu, 25 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189051