https://www.taxtmi.com/caselaws?id=67066 Penalty under Section 271(1)(b) for failure to comply with a Section 143(2) notice was to be computed by reference to the tax that would have been avoided if the returned income had been accepted as correct. Credit was not to be given for tax paid before filing the return. For a firm, however, the statutory scheme required the tax difference to be computed by treating the assessee as an unregistered firm, and where two interpretations were possible, the construction favourable to the assessee was preferred. The penalty was therefore revised on that basis. en-us Mon, 12 Dec 1983 00:00:00 +0530 Tue, 08 Mar 2011 18:45:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67066 Penalty under Section 271(1)(b) for failure to comply with a Section 143(2) notice was to be computed by reference to the tax that would have been avoided if the returned income had been accepted as correct. Credit was not to be given for tax paid before filing the return. For a firm, however, the statutory scheme required the tax difference to be computed by treating the assessee as an unregistered firm, and where two interpretations were possible, the construction favourable to the assessee was preferred. The penalty was therefore revised on that basis. Case-Laws Income Tax Mon, 12 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67066