1980 (4) TMI 150 - AT - Income Tax

Summary

The ITAT Calcutta-E dismissed appeals regarding a penalty imposed under the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 for a delay in payment. The penalty was cancelled by the AAC, and the ITAT upheld this decision based on the assessee's reasonable explanation for the delay. The appeals were dismissed.