https://www.taxtmi.com/caselaws?id=35746 The High Court ruled in favor of the assessee, finding that there was no reasonable cause for failing to file the estimate of advance tax. Although the Tribunal's findings were deemed not perverse, the penalty under Section 273(c) was considered unjustified as the assessee acted based on the available information at the time. The court answered the question referred in the negative, in favor of the assessee, with each party bearing its own costs. Justice Sabyasachi Mukharji concurred with the judgment, agreeing that the penalty under Section 273(c) was not justified. en-us Tue, 23 Dec 1980 00:00:00 +0530 Tue, 16 Mar 2010 13:57:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35746 The High Court ruled in favor of the assessee, finding that there was no reasonable cause for failing to file the estimate of advance tax. Although the Tribunal's findings were deemed not perverse, the penalty under Section 273(c) was considered unjustified as the assessee acted based on the available information at the time. The court answered the question referred in the negative, in favor of the assessee, with each party bearing its own costs. Justice Sabyasachi Mukharji concurred with the judgment, agreeing that the penalty under Section 273(c) was not justified. Case-Laws Income Tax Tue, 23 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35746