https://www.taxtmi.com/caselaws?id=56340 The Tribunal upheld the imposition of a penalty under section 273(1)(a) of the Income Tax Act, 1961 on the assessee for discrepancies in income estimates filed for the assessment year 1982-83. Despite the assessee's contentions regarding the constitutionality of amendments, the Tribunal found that there was no genuine belief in the unconstitutionality of the provisions at the time of filing the estimate. The penalty of Rs. 8,800 imposed by the Income Tax Officer was upheld, emphasizing that the revised income estimate and advance tax payment indicated the assessee's awareness of the situation. The appeal was dismissed, affirming the penalty decision. en-us Wed, 24 Apr 1991 00:00:00 +0530 Fri, 03 Dec 2010 11:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56340 The Tribunal upheld the imposition of a penalty under section 273(1)(a) of the Income Tax Act, 1961 on the assessee for discrepancies in income estimates filed for the assessment year 1982-83. Despite the assessee's contentions regarding the constitutionality of amendments, the Tribunal found that there was no genuine belief in the unconstitutionality of the provisions at the time of filing the estimate. The penalty of Rs. 8,800 imposed by the Income Tax Officer was upheld, emphasizing that the revised income estimate and advance tax payment indicated the assessee's awareness of the situation. The appeal was dismissed, affirming the penalty decision. Case-Laws Income Tax Wed, 24 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56340