1978 (10) TMI 56 - AT - Income Tax

Summary

The appeal was filed against a penalty of Rs. 3,824 under s. 273(c) of the IT Act, 1961, which was confirmed by the AAC. The assessee had not filed an estimate under s. 212(3A) but had filed an estimate and not paid the advance tax. The ITAT Bombay-A held that penalty under s. 273(c) does not apply in such cases. The penalty order was canceled, and the appeal was allowed.