https://www.taxtmi.com/caselaws?id=55563 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under Section 273(2)(a) of the IT Act, 1961. It found that the assessee's estimate of advance tax was made in good faith based on available information, and there was no evidence to suggest that the estimate was knowingly untrue. The Tribunal emphasized that the Revenue failed to demonstrate any grounds to justify the penalty, leading to its deletion. en-us Tue, 25 Aug 1998 00:00:00 +0530 Sat, 27 Nov 2010 17:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55563 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under Section 273(2)(a) of the IT Act, 1961. It found that the assessee's estimate of advance tax was made in good faith based on available information, and there was no evidence to suggest that the estimate was knowingly untrue. The Tribunal emphasized that the Revenue failed to demonstrate any grounds to justify the penalty, leading to its deletion. Case-Laws Income Tax Tue, 25 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55563