https://www.taxtmi.com/caselaws?id=21096 The High Court affirmed that only interest could be charged under section 217 of the Income-tax Act, and penalty proceedings under section 273(b) were deemed unwarranted. The assessments were annulled, and the court ruled in favor of the assessee, upholding the decision that only interest could be charged, not penalty proceedings under section 273. en-us Wed, 22 Apr 1992 00:00:00 +0530 Fri, 20 Nov 2009 10:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21096 The High Court affirmed that only interest could be charged under section 217 of the Income-tax Act, and penalty proceedings under section 273(b) were deemed unwarranted. The assessments were annulled, and the court ruled in favor of the assessee, upholding the decision that only interest could be charged, not penalty proceedings under section 273. Case-Laws Income Tax Wed, 22 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21096