1981 (6) TMI 100 - AT - Income Tax

Summary

The appeal was against a penalty of Rs. 3,000 imposed by the ITO under s. 273(c) of the IT Act, 1961. The AAC upheld the penalty, but the Tribunal set aside the order and restored the matter for fresh adjudication as evidence showed the estimate of advance tax was actually filed by the assessee. The appeal was allowed for statistical purposes. (Case citation: 1981 (6) TMI 100 - ITAT MADRAS-B)