https://www.taxtmi.com/caselaws?id=71022 The Tribunal held that penalties under section 271(1)(a) for late filing of returns cannot be imposed on protective assessments, as it is unjust and legally unsound. It was determined that both interest under section 139(8) and penalties under section 271(1)(a) can be levied simultaneously under the post-1971 amended law. Consequently, the penalties were canceled, and the appeals were allowed. en-us Tue, 17 Jun 1997 00:00:00 +0530 Fri, 21 Jun 2013 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71022 The Tribunal held that penalties under section 271(1)(a) for late filing of returns cannot be imposed on protective assessments, as it is unjust and legally unsound. It was determined that both interest under section 139(8) and penalties under section 271(1)(a) can be levied simultaneously under the post-1971 amended law. Consequently, the penalties were canceled, and the appeals were allowed. Case-Laws Income Tax Tue, 17 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71022