https://www.taxtmi.com/caselaws?id=9936 The Revenue's appeal challenging the penalty imposed under the Interest-tax Act was dismissed by the appellate authorities. They found that the penalty could not be imposed under the Interest-tax Act based on specific provisions, and the chargeable interest amount in the return aligned with the assessment order. The non-filing of the return voluntarily did not constitute concealment of chargeable interest, leading to the dismissal of the penalty imposition. The High Court affirmed this decision, stating no substantial legal question was raised, and rejected the argument that non-filing voluntarily attracts penalty under the Interest-tax Act. The court also clarified that the assessment was based on the disclosed amount by the assessee, dismissing the appeal for lack of merit. en-us Fri, 06 Jan 2006 00:00:00 +0530 Tue, 20 Sep 2011 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9936 The Revenue's appeal challenging the penalty imposed under the Interest-tax Act was dismissed by the appellate authorities. They found that the penalty could not be imposed under the Interest-tax Act based on specific provisions, and the chargeable interest amount in the return aligned with the assessment order. The non-filing of the return voluntarily did not constitute concealment of chargeable interest, leading to the dismissal of the penalty imposition. The High Court affirmed this decision, stating no substantial legal question was raised, and rejected the argument that non-filing voluntarily attracts penalty under the Interest-tax Act. The court also clarified that the assessment was based on the disclosed amount by the assessee, dismissing the appeal for lack of merit. Case-Laws Income Tax Fri, 06 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9936