https://www.taxtmi.com/caselaws?id=281359 The Tribunal upheld the deletion of the penalty under section 272A(2)(k) of the IT Act for the assessment year 2007-08. The penalty was imposed on a Public Limited Company for delays in filing required forms, but the assessee's explanation of a bona fide belief and timely tax deposits led to the penalty being deemed unjustified. The Tribunal affirmed the lower authority's decision, emphasizing the lack of reasonable cause for the penalty and dismissing the Revenue's appeal. en-us Wed, 14 Sep 2011 00:00:00 +0530 Sat, 15 Jun 2019 09:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281359 The Tribunal upheld the deletion of the penalty under section 272A(2)(k) of the IT Act for the assessment year 2007-08. The penalty was imposed on a Public Limited Company for delays in filing required forms, but the assessee's explanation of a bona fide belief and timely tax deposits led to the penalty being deemed unjustified. The Tribunal affirmed the lower authority's decision, emphasizing the lack of reasonable cause for the penalty and dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 14 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281359