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<h1>Income-tax Penalty Upheld for Non-Compliance with Assessment Notices</h1> <h3>Nandalal Jaiswal And Co. Versus Commissioner Of Income Tax</h3> Nandalal Jaiswal And Co. Versus Commissioner Of Income Tax - [1998] 232 ITR 540, 142 CTR 501, 96 TAXMANN 618 The High Court of Madhya Pradesh upheld a penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, on an assessee-firm for failure to comply with income assessment notices. The penalty of Rs. 15,050 was found justified despite an argument regarding the use of an unamended provision by the Income-tax Officer. The court ruled in favor of the Revenue and against the assessee.