https://www.taxtmi.com/caselaws?id=56739 The Tribunal held that the CIT erred in imposing a fine of Rs. 7,800 under section 285A(2) of the IT Act, 1961, on a public sector undertaking for non-compliance with information requirements. Despite the technical fault, lack of deliberate intent, and prompt compliance upon awareness, the fine was deemed unjust. Emphasizing the discretionary nature of penalties and the importance of considering circumstances, the Tribunal allowed the appeal, remitting the entire fine in favor of the appellant. en-us Fri, 09 Dec 1983 00:00:00 +0530 Mon, 06 Dec 2010 15:29:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56739 The Tribunal held that the CIT erred in imposing a fine of Rs. 7,800 under section 285A(2) of the IT Act, 1961, on a public sector undertaking for non-compliance with information requirements. Despite the technical fault, lack of deliberate intent, and prompt compliance upon awareness, the fine was deemed unjust. Emphasizing the discretionary nature of penalties and the importance of considering circumstances, the Tribunal allowed the appeal, remitting the entire fine in favor of the appellant. Case-Laws Income Tax Fri, 09 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56739