https://www.taxtmi.com/caselaws?id=27622 The High Court held that penalties under section 271(1)(a) could not be imposed for the assessment years 1964-65 and 1965-66. The Court emphasized the requirement of a reasonable cause for failure to furnish returns and noted that penalties necessitate deliberate defiance of the law, which was not present in this case. The decision aligned with interpreting taxing provisions favoring the assessee, as established in previous judgments. Consequently, the Court affirmed the Tribunal's ruling, rejecting the Department's appeals and leaving the parties to bear their own costs. en-us Fri, 23 Mar 1984 00:00:00 +0530 Mon, 15 Feb 2010 10:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27622 The High Court held that penalties under section 271(1)(a) could not be imposed for the assessment years 1964-65 and 1965-66. The Court emphasized the requirement of a reasonable cause for failure to furnish returns and noted that penalties necessitate deliberate defiance of the law, which was not present in this case. The decision aligned with interpreting taxing provisions favoring the assessee, as established in previous judgments. Consequently, the Court affirmed the Tribunal's ruling, rejecting the Department's appeals and leaving the parties to bear their own costs. Case-Laws Income Tax Fri, 23 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27622