https://www.taxtmi.com/caselaws?id=61001 The appeal by the assessee regarding the penalty imposed under section 272A(2)(a) of the Income-tax Act, 1961 for failing to file Form No. 50 was dismissed. The court upheld the penalty, emphasizing that the distinct requirements of Form No. 27A and Form No. 50 must both be complied with, and filing one does not excuse the requirement of the other. The delayed submission of Form No. 50 without a reasonable cause led to the affirmation of the penalty. Compliance with section 206A was deemed insufficient to excuse non-compliance with section 285, resulting in the dismissal of the appeal. en-us Mon, 18 Oct 1993 00:00:00 +0530 Mon, 10 Jan 2011 13:17:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61001 The appeal by the assessee regarding the penalty imposed under section 272A(2)(a) of the Income-tax Act, 1961 for failing to file Form No. 50 was dismissed. The court upheld the penalty, emphasizing that the distinct requirements of Form No. 27A and Form No. 50 must both be complied with, and filing one does not excuse the requirement of the other. The delayed submission of Form No. 50 without a reasonable cause led to the affirmation of the penalty. Compliance with section 206A was deemed insufficient to excuse non-compliance with section 285, resulting in the dismissal of the appeal. Case-Laws Income Tax Mon, 18 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61001