https://www.taxtmi.com/caselaws?id=28693 The Tribunal canceled the penalty imposed on partners under section 271(1)(a) for late filing of returns, reasoning that the partners' default was linked to the firm's default, which had already been penalized. The court emphasized the discretionary power under section 271 to impose penalties and upheld the Tribunal's decision, stating that separate penalties on partners and firms are permissible but not mandatory. The court found the Tribunal's exercise of discretion justified in this case, concluding that the cancellation of the partners' penalty was lawful. No costs were awarded in this judgment. en-us Thu, 23 Aug 1979 00:00:00 +0530 Wed, 24 Feb 2010 18:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28693 The Tribunal canceled the penalty imposed on partners under section 271(1)(a) for late filing of returns, reasoning that the partners' default was linked to the firm's default, which had already been penalized. The court emphasized the discretionary power under section 271 to impose penalties and upheld the Tribunal's decision, stating that separate penalties on partners and firms are permissible but not mandatory. The court found the Tribunal's exercise of discretion justified in this case, concluding that the cancellation of the partners' penalty was lawful. No costs were awarded in this judgment. Case-Laws Income Tax Thu, 23 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28693