https://www.taxtmi.com/caselaws?id=58139 The Tribunal dismissed the department's appeal against the cancellation of a penalty under section 273(c) of the IT Act 1961 for the assessment year 1976-77. It was found that the assessee had substantially complied with the statutory duty by filing an estimate and paying tax before the prescribed date, even though the estimate did not meet the threshold amount required by section 212(3A). As there was no deliberate disregard of statutory duties, the Tribunal upheld the cancellation of the penalty by the CIT(A). en-us Thu, 23 Dec 1982 00:00:00 +0530 Fri, 17 Dec 2010 15:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58139 The Tribunal dismissed the department's appeal against the cancellation of a penalty under section 273(c) of the IT Act 1961 for the assessment year 1976-77. It was found that the assessee had substantially complied with the statutory duty by filing an estimate and paying tax before the prescribed date, even though the estimate did not meet the threshold amount required by section 212(3A). As there was no deliberate disregard of statutory duties, the Tribunal upheld the cancellation of the penalty by the CIT(A). Case-Laws Income Tax Thu, 23 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58139