https://www.taxtmi.com/caselaws?id=13985 The High Court allowed the application under section 256(2) of the Income-tax Act, 1961, directing the Tribunal to refer questions of law arising from penalty proceedings to the High Court. It concluded that a question of law existed regarding imposing a penalty under section 271(1)(c) when no taxable income was assessed, and no tax was payable by the assessee. The court resolved the difference of opinion between Tribunal members on penalty levy and directed a consolidated question for consideration. Additionally, the court examined the interpretation of the expression "in addition to any tax payable by him" in section 271(1)(c)(iii) and directed the Tribunal to refer this question to the High Court for opinion. en-us Thu, 19 Apr 2001 00:00:00 +0530 Mon, 06 Jul 2009 17:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13985 The High Court allowed the application under section 256(2) of the Income-tax Act, 1961, directing the Tribunal to refer questions of law arising from penalty proceedings to the High Court. It concluded that a question of law existed regarding imposing a penalty under section 271(1)(c) when no taxable income was assessed, and no tax was payable by the assessee. The court resolved the difference of opinion between Tribunal members on penalty levy and directed a consolidated question for consideration. Additionally, the court examined the interpretation of the expression "in addition to any tax payable by him" in section 271(1)(c)(iii) and directed the Tribunal to refer this question to the High Court for opinion. Case-Laws Income Tax Thu, 19 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13985