https://www.taxtmi.com/caselaws?id=10736 Section 158BFA(2) of the Income-tax Act, 1961 was examined as a penalty provision in block assessment proceedings under Chapter XIV-B. The provision was treated as a deterrent against tax evasion and as part of the legislative power to levy tax and impose penalties. The Court found no basis to characterise it as hostile, expropriatory, oppressive, or otherwise unconstitutional, and held that no sustainable ground was shown for invoking fundamental rights to invalidate it. The challenge therefore failed and the penalty provision was upheld as valid. en-us Fri, 09 Sep 2005 00:00:00 +0530 Wed, 22 Jul 2009 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10736 Section 158BFA(2) of the Income-tax Act, 1961 was examined as a penalty provision in block assessment proceedings under Chapter XIV-B. The provision was treated as a deterrent against tax evasion and as part of the legislative power to levy tax and impose penalties. The Court found no basis to characterise it as hostile, expropriatory, oppressive, or otherwise unconstitutional, and held that no sustainable ground was shown for invoking fundamental rights to invalidate it. The challenge therefore failed and the penalty provision was upheld as valid. Case-Laws Income Tax Fri, 09 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10736