https://www.taxtmi.com/caselaws?id=59795 The Tribunal dismissed the Revenue's appeals and allowed the Cross Objections filed by the assessee, canceling the penalty orders for all the assessment years under consideration. The Tribunal found that penalties were imposed without proper consideration by the WTO and AAC, and upheld the assessee's claims regarding the calculation of penalties, computation of default period, validity of penalty orders, consideration of reasonable cause for delay, and application of mind in penalty proceedings. en-us Mon, 14 Sep 1981 00:00:00 +0530 Sat, 01 Jan 2011 12:17:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59795 The Tribunal dismissed the Revenue's appeals and allowed the Cross Objections filed by the assessee, canceling the penalty orders for all the assessment years under consideration. The Tribunal found that penalties were imposed without proper consideration by the WTO and AAC, and upheld the assessee's claims regarding the calculation of penalties, computation of default period, validity of penalty orders, consideration of reasonable cause for delay, and application of mind in penalty proceedings. Case-Laws Wealth-tax Mon, 14 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59795