High Court rules no penalty under sec 271(1)(a) as tax paid exceeded assessed amount.

The High Court of Madras held in favor of the assessee, ruling that no penalty under section 271(1)(a) was applicable as the tax paid exceeded the tax assessed. The court differentiated this case from a prior one where payment was made before the penalty order, absolving the assessee from penalty liability. Additionally, the assessee was granted costs, including counsel's fee of Rs. 300.

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The High Court of Madras ruled in favor of the assessee, stating that no penalty under section 271(1)(a) was leviable as the tax paid was in excess of the tax assessed. The court distinguished a previous case where the payment was made before the penalty order, and held that the assessee was not liable to pay penalty in this case. The assessee was awarded costs, including counsel's fee of Rs. 300.

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