https://www.taxtmi.com/caselaws?id=58103 The Tribunal allowed all four appeals concerning penalties under sections 271(1)(a) and 271(1)(b) of the IT Act for assessment years 1967-68 and 1968-69. The penalties imposed by the ITO and confirmed by the AAC were canceled. For penalties under section 271(1)(a), delays in filing returns were deemed justified due to partnership disputes and lack of proper documentation. Regarding penalties under section 271(1)(b) for alleged non-compliance with notices, the Tribunal found the assessee's explanations satisfactory, noting their cooperation. Consequently, all penalties were revoked for both assessment years. en-us Wed, 28 Dec 1977 00:00:00 +0530 Fri, 17 Dec 2010 13:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58103 The Tribunal allowed all four appeals concerning penalties under sections 271(1)(a) and 271(1)(b) of the IT Act for assessment years 1967-68 and 1968-69. The penalties imposed by the ITO and confirmed by the AAC were canceled. For penalties under section 271(1)(a), delays in filing returns were deemed justified due to partnership disputes and lack of proper documentation. Regarding penalties under section 271(1)(b) for alleged non-compliance with notices, the Tribunal found the assessee's explanations satisfactory, noting their cooperation. Consequently, all penalties were revoked for both assessment years. Case-Laws Income Tax Wed, 28 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58103