1977 (6) TMI 59 - AT - Income Tax

Summary

The appeal was against a penalty under s. 273(c) for the asst. yr. 1972-73. The assessee filed an estimate, but tax was not paid. The Tribunal held that no penalty can be levied in such a case. The appeal was allowed, and the penalty was cancelled. (Case: Appellate Tribunal ITAT MADRAS-B, Citation: 1977 (6) TMI 59 - ITAT MADRAS-B)