1985 (4) TMI 123 - AT - Income Tax

Summary

The appeal relates to a penalty of Rs. 3,300 under s. 273(c) of the IT Act, 1961. The ITO levied the penalty for failure to submit an estimate under s. 212(3A). The assessee argued that tax deducted at source justified not filing the estimate. The ITAT cancelled the penalty as there was a reasonable cause for not filing the estimate. The appeal was allowed. (Case: Appellate Tribunal ITAT Jabalpur, Citation: 1985 (4) TMI 123 - ITAT Jabalpur)