https://www.taxtmi.com/caselaws?id=5783 SC upheld the Calcutta HC and dismissed the appeal with costs, holding that levy of additional tax under s.143(1A) was not warranted where the return was correct on the date of filing. The court treated the additional tax as punitive in nature and found it unjust to penalize the assessee for retrospective taxation introduced later by the Finance Act, 1990. Absent lack of bona fides or a statutory provision explicitly imposing penalty, retrospective inclusion of cash compensatory support in income did not justify automatic imposition of additional tax. en-us Mon, 27 Mar 2000 00:00:00 +0530 Wed, 08 Oct 2025 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5783 SC upheld the Calcutta HC and dismissed the appeal with costs, holding that levy of additional tax under s.143(1A) was not warranted where the return was correct on the date of filing. The court treated the additional tax as punitive in nature and found it unjust to penalize the assessee for retrospective taxation introduced later by the Finance Act, 1990. Absent lack of bona fides or a statutory provision explicitly imposing penalty, retrospective inclusion of cash compensatory support in income did not justify automatic imposition of additional tax. Case-Laws Income Tax Mon, 27 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5783