https://www.taxtmi.com/caselaws?id=469325 Penalty for delayed return filing under section 272A(2)(e) was found unjustified where a Government college claiming exemption under section 10(23C)(iiiab) had a bona fide belief that no return was required. After notice under section 148A, it filed the return, and reassessment resulted in nil income with full exemption. The lapse was treated as a technical, revenue-neutral default rather than a contumacious breach, so substantial compliance was accepted and the penalty was deleted. en-us Wed, 05 Mar 2025 00:00:00 +0530 Sat, 13 Jun 2026 21:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469325 Penalty for delayed return filing under section 272A(2)(e) was found unjustified where a Government college claiming exemption under section 10(23C)(iiiab) had a bona fide belief that no return was required. After notice under section 148A, it filed the return, and reassessment resulted in nil income with full exemption. The lapse was treated as a technical, revenue-neutral default rather than a contumacious breach, so substantial compliance was accepted and the penalty was deleted. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469325