https://www.taxtmi.com/caselaws?id=20279 The High Court of Gujarat held that the penalty imposed under section 140A(3) of the Income-tax Act, 1961, for non-payment of self-assessment tax was valid. The Court emphasized that the legal position at the time of deciding the reference should be considered, ruling in favor of the Revenue. The penalty imposed by the Income-tax Officer was upheld, overturning the Tribunal's decision influenced by conflicting High Court judgments. en-us Wed, 23 Jun 1993 00:00:00 +0530 Fri, 13 Nov 2009 10:12:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20279 The High Court of Gujarat held that the penalty imposed under section 140A(3) of the Income-tax Act, 1961, for non-payment of self-assessment tax was valid. The Court emphasized that the legal position at the time of deciding the reference should be considered, ruling in favor of the Revenue. The penalty imposed by the Income-tax Officer was upheld, overturning the Tribunal's decision influenced by conflicting High Court judgments. Case-Laws Income Tax Wed, 23 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20279