https://www.taxtmi.com/caselaws?id=68026 Delay in filing a return did not attract penalty under section 271(1)(a) where the assessee's prepaid taxes exceeded the assessed tax. Applying the jurisdictional High Court ruling, the Tribunal treated the assessed tax as nil in such circumstances and held that penalty for late filing could not be imposed under section 271(1)(a)(i)(b). The Department's challenge therefore failed and the penalty was deleted. en-us Fri, 10 Jan 1992 00:00:00 +0530 Wed, 16 Mar 2011 14:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68026 Delay in filing a return did not attract penalty under section 271(1)(a) where the assessee's prepaid taxes exceeded the assessed tax. Applying the jurisdictional High Court ruling, the Tribunal treated the assessed tax as nil in such circumstances and held that penalty for late filing could not be imposed under section 271(1)(a)(i)(b). The Department's challenge therefore failed and the penalty was deleted. Case-Laws Income Tax Fri, 10 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68026