https://www.taxtmi.com/caselaws?id=6248 Penalty under section 271(1)(a) of the Income-tax Act was held to be applicable on the first question raised, because the issue had already been settled by an earlier Supreme Court decision and counsel accepted that position. The Court therefore answered the question in the affirmative and in favour of the Revenue, against the assessee. en-us Fri, 08 Jan 1971 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6248 Penalty under section 271(1)(a) of the Income-tax Act was held to be applicable on the first question raised, because the issue had already been settled by an earlier Supreme Court decision and counsel accepted that position. The Court therefore answered the question in the affirmative and in favour of the Revenue, against the assessee. Case-Laws Income Tax Fri, 08 Jan 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6248