https://www.taxtmi.com/caselaws?id=55977 The Tribunal upheld the penalty of Rs. 40,000 imposed by the CIT(A) under Section 273(2)(c) of the IT Act, 1961. The appeal challenging the penalty reduction from Rs. 6,00,000 to Rs. 40,000 was dismissed. The Tribunal rejected arguments regarding technical defects in notice issuance, lack of obligation to file an estimate of advance tax under Section 209A(4), and the merits of the penalty imposed. It was determined that the assessee was liable to file an estimate of advance tax and failed to do so, justifying the penalty. en-us Wed, 22 Feb 1995 00:00:00 +0530 Tue, 30 Nov 2010 18:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55977 The Tribunal upheld the penalty of Rs. 40,000 imposed by the CIT(A) under Section 273(2)(c) of the IT Act, 1961. The appeal challenging the penalty reduction from Rs. 6,00,000 to Rs. 40,000 was dismissed. The Tribunal rejected arguments regarding technical defects in notice issuance, lack of obligation to file an estimate of advance tax under Section 209A(4), and the merits of the penalty imposed. It was determined that the assessee was liable to file an estimate of advance tax and failed to do so, justifying the penalty. Case-Laws Income Tax Wed, 22 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55977