https://www.taxtmi.com/caselaws?id=15255 The court ruled in favor of the assessee, holding that the Tribunal was not justified in upholding the imposition of penalty under section 273(1)(b) for non-payment of advance tax. The court clarified that section 273 penalizes the failure to furnish a statement or estimate, not the non-payment of advance tax. The references were disposed of accordingly. en-us Fri, 29 Oct 1999 00:00:00 +0530 Tue, 04 Aug 2009 12:42:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15255 The court ruled in favor of the assessee, holding that the Tribunal was not justified in upholding the imposition of penalty under section 273(1)(b) for non-payment of advance tax. The court clarified that section 273 penalizes the failure to furnish a statement or estimate, not the non-payment of advance tax. The references were disposed of accordingly. Case-Laws Income Tax Fri, 29 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15255