https://www.taxtmi.com/caselaws?id=55257 The ITAT allowed the appeals and directed the Assessing Officer to cancel the penalties imposed under section 272A(2)(c) for late filing of Form No. 26A. The penalties were deemed unjustified due to technical breaches, and the delay in filing was considered reasonable. The ITAT emphasized that penalties should not be imposed for technical breaches or bona fide beliefs, citing the Hindustan Steel Ltd. case. The decision was supported by a previous Tribunal case, and it was held that the delay did not cause revenue loss and the assessee did not benefit from it. en-us Fri, 08 Mar 1996 00:00:00 +0530 Wed, 24 Nov 2010 18:53:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55257 The ITAT allowed the appeals and directed the Assessing Officer to cancel the penalties imposed under section 272A(2)(c) for late filing of Form No. 26A. The penalties were deemed unjustified due to technical breaches, and the delay in filing was considered reasonable. The ITAT emphasized that penalties should not be imposed for technical breaches or bona fide beliefs, citing the Hindustan Steel Ltd. case. The decision was supported by a previous Tribunal case, and it was held that the delay did not cause revenue loss and the assessee did not benefit from it. Case-Laws Income Tax Fri, 08 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55257