High Court rules no penalty for firm under section 271(1)(a) for AY 1978-79. Tribunal affirmed, citing no tax liability. The High Court of Rajasthan held that no penalty under section 271(1)(a) was applicable to the assessee, a registered firm, for the assessment year ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
High Court rules no penalty for firm under section 271(1)(a) for AY 1978-79. Tribunal affirmed, citing no tax liability.
The High Court of Rajasthan held that no penalty under section 271(1)(a) was applicable to the assessee, a registered firm, for the assessment year 1978-79. The Tribunal's decision was affirmed, finding that the firm had no tax liability as per the Explanation to section 271(1)(a). The reference was decided in favor of the assessee, ruling against the Revenue.
The High Court of Rajasthan ruled in a reference under the Income-tax Act, 1961 that no penalty under section 271(1)(a) was leviable against the assessee, a registered firm, for the assessment year 1978-79. The Tribunal's decision was upheld, stating that the firm had no tax liability as per the Explanation to section 271(1)(a). The reference was answered against the Revenue in favor of the assessee.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
