1989 (10) TMI 100 - AT - Income Tax

Summary

The ITAT Jaipur allowed the appeal against a penalty of Rs. 1,000 imposed under s. 273(1)(b) of the IT Act. The tribunal found that the penalty order lacked clarity on the specific default and noted that the assessee had reasonable cause for filing the estimate of advance tax based on the income reported. The penalty imposed by the ITO was cancelled.