https://www.taxtmi.com/caselaws?id=58771 The Tribunal consolidated appeals concerning penalties under s. 273(1)(b) of the Income Tax Act for failure to file estimates by the last installment date despite being assessed before. It held that being assessed before the due date constituted being "regularly assessed," exempting assessees from estimate filing obligations under s. 209A(1)(b). Citing precedents, the Tribunal emphasized that assessments conclude upon officer sign-off, not service. It ruled that penalties should not be imposed for technical breaches, requiring a judicial assessment of circumstances. Consequently, the appeals were allowed, with penalties deemed unwarranted given the facts. en-us Mon, 30 Sep 1985 00:00:00 +0530 Tue, 21 Dec 2010 18:49:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58771 The Tribunal consolidated appeals concerning penalties under s. 273(1)(b) of the Income Tax Act for failure to file estimates by the last installment date despite being assessed before. It held that being assessed before the due date constituted being "regularly assessed," exempting assessees from estimate filing obligations under s. 209A(1)(b). Citing precedents, the Tribunal emphasized that assessments conclude upon officer sign-off, not service. It ruled that penalties should not be imposed for technical breaches, requiring a judicial assessment of circumstances. Consequently, the appeals were allowed, with penalties deemed unwarranted given the facts. Case-Laws Income Tax Mon, 30 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58771