https://www.taxtmi.com/caselaws?id=9253 The High Court upheld the Tribunal's decision to cancel the penalty imposed on the assessee for filing its return after the due date. The Court emphasized that penalties should not be imposed unless there is deliberate defiance of the law or conscious disregard of obligations. It found the Tribunal's reasoning that the assessee's default was technical due to changes in the law and lack of contumacious conduct to be reasonable. The Court ruled that the cancellation of the penalty was justified in law based on the circumstances of the case, with both judges concurring and making no direction as to costs. en-us Mon, 21 Jan 1974 00:00:00 +0530 Sat, 20 Jun 2009 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9253 The High Court upheld the Tribunal's decision to cancel the penalty imposed on the assessee for filing its return after the due date. The Court emphasized that penalties should not be imposed unless there is deliberate defiance of the law or conscious disregard of obligations. It found the Tribunal's reasoning that the assessee's default was technical due to changes in the law and lack of contumacious conduct to be reasonable. The Court ruled that the cancellation of the penalty was justified in law based on the circumstances of the case, with both judges concurring and making no direction as to costs. Case-Laws Income Tax Mon, 21 Jan 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9253