https://www.taxtmi.com/caselaws?id=17154 The High Court upheld the penalty imposed under section 140A(3) of the Income-tax Act against the assessee for non-payment of self-assessment tax. The court determined that the amended provisions of section 140A applied to the case, rendering the previous decision in Sali Maricar's case irrelevant. The assessee's failure to provide a valid reason for the delayed tax payment led to the affirmation of the penalty. The judgment emphasized the importance of establishing a reasonable cause for delayed tax payments in determining the validity of penalties under the Act. en-us Thu, 15 Feb 1996 00:00:00 +0530 Tue, 15 Sep 2009 14:16:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17154 The High Court upheld the penalty imposed under section 140A(3) of the Income-tax Act against the assessee for non-payment of self-assessment tax. The court determined that the amended provisions of section 140A applied to the case, rendering the previous decision in Sali Maricar's case irrelevant. The assessee's failure to provide a valid reason for the delayed tax payment led to the affirmation of the penalty. The judgment emphasized the importance of establishing a reasonable cause for delayed tax payments in determining the validity of penalties under the Act. Case-Laws Income Tax Thu, 15 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17154