https://www.taxtmi.com/caselaws?id=59030 The Appellate Tribunal partially allowed the assessee's appeal regarding the penalty imposed under section 271(1)(a) of the Income Tax Act for delay in filing returns, upholding the CIT (A)'s decision to cancel the penalty under section 273(a) for underestimation in advance tax. The Tribunal dismissed the departmental appeals, considering the reasons for delay provided by the assessee, including internal troubles and non-cooperation from staff. The judgment provides insights into the calculation of penalty amounts based on assessed tax, deductions, and the genuine belief of the assessee in the deductible liability. en-us Wed, 27 Apr 1983 00:00:00 +0530 Thu, 23 Dec 2010 16:20:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59030 The Appellate Tribunal partially allowed the assessee's appeal regarding the penalty imposed under section 271(1)(a) of the Income Tax Act for delay in filing returns, upholding the CIT (A)'s decision to cancel the penalty under section 273(a) for underestimation in advance tax. The Tribunal dismissed the departmental appeals, considering the reasons for delay provided by the assessee, including internal troubles and non-cooperation from staff. The judgment provides insights into the calculation of penalty amounts based on assessed tax, deductions, and the genuine belief of the assessee in the deductible liability. Case-Laws Income Tax Wed, 27 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59030