https://www.taxtmi.com/caselaws?id=56136 The tribunal concluded that the penalty under section 273(1)(b) of the IT Act, 1961 could not be sustained. The appellant's belief regarding the carry forward of losses and royalty deductions was deemed bona fide, and the burden of proof was not met by the department. Additionally, the deletion of interest under section 215 supported the appellant's case. As a result, the penalty was cancelled, and the appeal was allowed. en-us Thu, 06 Feb 1992 00:00:00 +0530 Wed, 01 Dec 2010 17:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56136 The tribunal concluded that the penalty under section 273(1)(b) of the IT Act, 1961 could not be sustained. The appellant's belief regarding the carry forward of losses and royalty deductions was deemed bona fide, and the burden of proof was not met by the department. Additionally, the deletion of interest under section 215 supported the appellant's case. As a result, the penalty was cancelled, and the appeal was allowed. Case-Laws Income Tax Thu, 06 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56136