https://www.taxtmi.com/caselaws?id=384210 The tribunal upheld the Ld. CIT(A)'s decision to delete the penalty under section 221(1) for non-payment of self-assessment tax by the assessee, a Public Limited Company in hotel consultancy, due to financial difficulties. The appeal by the revenue was dismissed, and the entire tax liability was paid in installments over time, absolving the assessee of the penalty. The delay in filing the appeal was condoned, considering the financial constraints faced by the assessee, including failed investments, and efforts made to fulfill the tax obligations. en-us Mon, 03 Jun 2019 00:00:00 +0530 Wed, 07 Aug 2019 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384210 The tribunal upheld the Ld. CIT(A)'s decision to delete the penalty under section 221(1) for non-payment of self-assessment tax by the assessee, a Public Limited Company in hotel consultancy, due to financial difficulties. The appeal by the revenue was dismissed, and the entire tax liability was paid in installments over time, absolving the assessee of the penalty. The delay in filing the appeal was condoned, considering the financial constraints faced by the assessee, including failed investments, and efforts made to fulfill the tax obligations. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384210