https://www.taxtmi.com/caselaws?id=60064 The Tribunal allowed both appeals, canceling the penalties levied under Sections 273 and 271(1)(a) of the Income-tax Act, 1961. The penalties were found to be unsustainable due to the absence of recorded satisfaction by the ITO, the cryptic nature of penalty orders, and the reasonable cause for the delay in filing the return. en-us Mon, 16 Dec 1991 00:00:00 +0530 Mon, 03 Jan 2011 15:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60064 The Tribunal allowed both appeals, canceling the penalties levied under Sections 273 and 271(1)(a) of the Income-tax Act, 1961. The penalties were found to be unsustainable due to the absence of recorded satisfaction by the ITO, the cryptic nature of penalty orders, and the reasonable cause for the delay in filing the return. Case-Laws Income Tax Mon, 16 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60064