https://www.taxtmi.com/caselaws?id=406574 The ITAT Bangalore dismissed the revenue's appeal and upheld the deletion of the penalty under section 271F. The decision was based on the Assessee's financial difficulties, including the inability to secure a loan, which led to the delay in paying taxes. The ITAT considered practical challenges faced by the Assessee and legal precedents cited by the CIT(A), ultimately affirming the decision to delete the penalty. en-us Fri, 16 Apr 2021 00:00:00 +0530 Sat, 17 Apr 2021 11:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406574 The ITAT Bangalore dismissed the revenue's appeal and upheld the deletion of the penalty under section 271F. The decision was based on the Assessee's financial difficulties, including the inability to secure a loan, which led to the delay in paying taxes. The ITAT considered practical challenges faced by the Assessee and legal precedents cited by the CIT(A), ultimately affirming the decision to delete the penalty. Case-Laws Income Tax Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406574