https://www.taxtmi.com/caselaws?id=60521 The Tribunal partially allowed the appeal, confirming the penalty under section 273(1)(b) for failure to file an advance tax statement. However, the Tribunal directed the ITO to recalculate the penalty amount by considering the tax deductible at source under sections 194 and 195, leading to a revised penalty calculation at 10% of the shortfall after accounting for the tax deductible at source. en-us Fri, 03 Jun 1988 00:00:00 +0530 Wed, 05 Jan 2011 17:18:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60521 The Tribunal partially allowed the appeal, confirming the penalty under section 273(1)(b) for failure to file an advance tax statement. However, the Tribunal directed the ITO to recalculate the penalty amount by considering the tax deductible at source under sections 194 and 195, leading to a revised penalty calculation at 10% of the shortfall after accounting for the tax deductible at source. Case-Laws Income Tax Fri, 03 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60521