https://www.taxtmi.com/caselaws?id=5102 The SC held that the AO's action in imposing penalty for default in compliance with provisional tax demand under section 141 was not justified. The AO had allowed deduction as loss carried forward from earlier years against the company's returned income and made a provisional tax demand. The assessee's appeal was allowed, indicating the penalty for non-compliance with the provisional demand was improper. en-us Tue, 24 Sep 1968 00:00:00 +0530 Fri, 16 May 2025 11:14:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5102 The SC held that the AO's action in imposing penalty for default in compliance with provisional tax demand under section 141 was not justified. The AO had allowed deduction as loss carried forward from earlier years against the company's returned income and made a provisional tax demand. The assessee's appeal was allowed, indicating the penalty for non-compliance with the provisional demand was improper. Case-Laws Income Tax Tue, 24 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5102