https://www.taxtmi.com/caselaws?id=75615 The court held that a penalty under Section 271(1)(c) can be imposed even when income is determined as a loss, based on specific conditions being met. The department's appeal, filed 517 days after a Supreme Court decision altering the interpretation, was dismissed due to delay. The court emphasized the finality of the tribunal's decision based on the earlier Supreme Court ruling, highlighting the significance of timely appeals in tax matters to avoid delays resulting from evolving legal interpretations. en-us Thu, 15 Apr 2010 00:00:00 +0530 Tue, 06 Sep 2011 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75615 The court held that a penalty under Section 271(1)(c) can be imposed even when income is determined as a loss, based on specific conditions being met. The department's appeal, filed 517 days after a Supreme Court decision altering the interpretation, was dismissed due to delay. The court emphasized the finality of the tribunal's decision based on the earlier Supreme Court ruling, highlighting the significance of timely appeals in tax matters to avoid delays resulting from evolving legal interpretations. Case-Laws Income Tax Thu, 15 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75615