https://www.taxtmi.com/caselaws?id=59050 The ITAT upheld the AAC's decision to delete penalties under Section 271(1)(a) for the assessment years 1977-78 and 1978-79. The penalties were canceled based on the grounds that the assessee had sought extensions of time for filing returns, which were not considered by the ITO. The ITAT affirmed that since the extensions were not refused, they should be presumed as granted, leading to the deletion of penalties. The departmental appeals were dismissed, confirming the cancellation of penalties imposed by the ITO. en-us Wed, 02 Jul 1986 00:00:00 +0530 Thu, 23 Dec 2010 17:00:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59050 The ITAT upheld the AAC's decision to delete penalties under Section 271(1)(a) for the assessment years 1977-78 and 1978-79. The penalties were canceled based on the grounds that the assessee had sought extensions of time for filing returns, which were not considered by the ITO. The ITAT affirmed that since the extensions were not refused, they should be presumed as granted, leading to the deletion of penalties. The departmental appeals were dismissed, confirming the cancellation of penalties imposed by the ITO. Case-Laws Income Tax Wed, 02 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59050