https://www.taxtmi.com/caselaws?id=28833 Under section 273(1)(b), penalty for failure to furnish an advance tax estimate is attracted only when the default is without reasonable cause. The assessee's explanation must be examined on the facts, and if the Tribunal accepts reasonable cause, the authority must exercise discretion judicially before sustaining penalty. In reference jurisdiction, the High Court will not disturb that factual finding unless it is perverse or unsupported by evidence. Applying that standard, the finding of reasonable cause was upheld and the penalties were not sustained. en-us Fri, 31 Dec 1982 00:00:00 +0530 Fri, 26 Feb 2010 12:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28833 Under section 273(1)(b), penalty for failure to furnish an advance tax estimate is attracted only when the default is without reasonable cause. The assessee's explanation must be examined on the facts, and if the Tribunal accepts reasonable cause, the authority must exercise discretion judicially before sustaining penalty. In reference jurisdiction, the High Court will not disturb that factual finding unless it is perverse or unsupported by evidence. Applying that standard, the finding of reasonable cause was upheld and the penalties were not sustained. Case-Laws Income Tax Fri, 31 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28833