https://www.taxtmi.com/caselaws?id=17808 The High Court of Andhra Pradesh considered the interpretation of 'assessed tax' in the Income-tax Act, particularly in relation to penalty calculation under section 271(1)(i)(b). The Court disagreed with the Tribunal's decision that advance tax payable by an unregistered firm should determine the penalty amount, instead of the advance tax paid by a registered firm. The Court found the issues raised to be debatable and worthy of consideration, directing the reference of the questions raised by the Commissioner of Income-tax for further examination. Ultimately, the Court allowed the Commissioner's plea, emphasizing the importance of addressing the legal issues presented in the case. en-us Tue, 14 Nov 1995 00:00:00 +0530 Thu, 24 Sep 2009 18:23:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17808 The High Court of Andhra Pradesh considered the interpretation of 'assessed tax' in the Income-tax Act, particularly in relation to penalty calculation under section 271(1)(i)(b). The Court disagreed with the Tribunal's decision that advance tax payable by an unregistered firm should determine the penalty amount, instead of the advance tax paid by a registered firm. The Court found the issues raised to be debatable and worthy of consideration, directing the reference of the questions raised by the Commissioner of Income-tax for further examination. Ultimately, the Court allowed the Commissioner's plea, emphasizing the importance of addressing the legal issues presented in the case. Case-Laws Income Tax Tue, 14 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17808