https://www.taxtmi.com/caselaws?id=12863 The High Court of CALCUTTA ruled in favor of the assessee in a case involving the interpretation of the Income-tax Act, 1961. The court held that if the assessee was not obligated to file an estimate of advance tax, no penalty could be imposed under section 273(1)(a), even if the information provided was inaccurate. The Tribunal's decision to cancel the penalty was justified, citing precedents and established principles. The court's judgment favored the assessee, leading to the cancellation of the penalty imposed by the Assessing Officer. en-us Tue, 09 Oct 2001 00:00:00 +0530 Fri, 22 May 2009 15:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12863 The High Court of CALCUTTA ruled in favor of the assessee in a case involving the interpretation of the Income-tax Act, 1961. The court held that if the assessee was not obligated to file an estimate of advance tax, no penalty could be imposed under section 273(1)(a), even if the information provided was inaccurate. The Tribunal's decision to cancel the penalty was justified, citing precedents and established principles. The court's judgment favored the assessee, leading to the cancellation of the penalty imposed by the Assessing Officer. Case-Laws Income Tax Tue, 09 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12863