https://www.taxtmi.com/caselaws?id=5306 Penalties under section 271(1)(c) of the Income-tax Act, 1961, read with the Explanation, are discussed in relation to whether the levy was justified for the relevant assessment years and whether penalty computation should rest on the difference between the tax on the original returned income and the tax on the assessed income. The High Court's view on both the justification for penalty and the method of calculating tax sought to be evaded was accepted because no error of law was found in that approach. The discussion therefore reflects that the Revenue's position prevailed on both points and appellate interference was unwarranted. en-us Fri, 07 Sep 1990 00:00:00 +0530 Fri, 31 Aug 2018 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5306 Penalties under section 271(1)(c) of the Income-tax Act, 1961, read with the Explanation, are discussed in relation to whether the levy was justified for the relevant assessment years and whether penalty computation should rest on the difference between the tax on the original returned income and the tax on the assessed income. The High Court's view on both the justification for penalty and the method of calculating tax sought to be evaded was accepted because no error of law was found in that approach. The discussion therefore reflects that the Revenue's position prevailed on both points and appellate interference was unwarranted. Case-Laws Income Tax Fri, 07 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5306