https://www.taxtmi.com/caselaws?id=59964 The Tribunal partially allowed the Revenue's appeals challenging penalties under section 271(1)(a) for late filing of returns. The Tribunal upheld penalties for the period after notices u/s 148, finding insufficient reasons for delay. However, it accepted the assessee's bonafide impression defense for the period before notices, ruling out penalties. Cross objections by the assessee were dismissed as the penalty computation was specific to the default period. Ultimately, the appeals were partially allowed, resulting in a recalculated penalty for the default period. en-us Sat, 31 Oct 1981 00:00:00 +0530 Mon, 03 Jan 2011 11:00:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59964 The Tribunal partially allowed the Revenue's appeals challenging penalties under section 271(1)(a) for late filing of returns. The Tribunal upheld penalties for the period after notices u/s 148, finding insufficient reasons for delay. However, it accepted the assessee's bonafide impression defense for the period before notices, ruling out penalties. Cross objections by the assessee were dismissed as the penalty computation was specific to the default period. Ultimately, the appeals were partially allowed, resulting in a recalculated penalty for the default period. Case-Laws Income Tax Sat, 31 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59964