1999 (2) TMI 15

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..... nal was right in law and on fact in holding that this was not a fit case for levy of penalty under s. 273(2)(a) - held, yes - C. A. No 1858 of 1994. - - - Dated:- 17-2-1999 - M. SRINIVASAN AND U. C. BANERJEE JJ. For the Appellant : B. K. Prasad, Advocate ORDEROrder BY THE COURT : The Revenue is aggrieved by the judgment of the High Court which confirmed the view taken by the .....

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..... t is seen that the Tribunal has found, on the facts, that the figures submitted by the assesses were on an honest belief of the estimate made by It pursuant to the position In law as It was understood at that time by the decisions of the Court, Hence, the fact that the estimated income returned by the assesses for the purpose of advance tax was less than the annual income would not bring the asses .....

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