https://www.taxtmi.com/caselaws?id=14893 Penalty for delayed filing of a return was not leviable where tax deducted at source exceeded the assessed tax and no tax remained payable. The Madras HC applied the principle that a penalty under section 271(1)(a) cannot be computed unless there is an amount on which the statutory percentage can operate, and held that the source of the excess payment, whether tax deducted at source or advance tax, made no material difference because the assessed tax was fully covered. The Tribunal's cancellation of penalty was therefore upheld in favour of the assessee. en-us Wed, 24 Dec 1997 00:00:00 +0530 Mon, 27 Jul 2009 10:17:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14893 Penalty for delayed filing of a return was not leviable where tax deducted at source exceeded the assessed tax and no tax remained payable. The Madras HC applied the principle that a penalty under section 271(1)(a) cannot be computed unless there is an amount on which the statutory percentage can operate, and held that the source of the excess payment, whether tax deducted at source or advance tax, made no material difference because the assessed tax was fully covered. The Tribunal's cancellation of penalty was therefore upheld in favour of the assessee. Case-Laws Income Tax Wed, 24 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14893