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Issues: Whether penalty under section 9 of the Companies (Profits) Surtax Act, 1964 is attracted where a return has been filed under any one of the sub-sections of section 5 of that Act.
Analysis: The question referred under section 256(1) of the Income-tax Act, 1961 was answered by following the court's earlier decision on the same point. The governing view was that filing of the return under one or the other of the three sub-sections of section 5 does not attract penalty under section 9.
Conclusion: The question was answered in the affirmative, in favour of the assessee and against the Revenue.
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