https://www.taxtmi.com/caselaws?id=24659 The court ruled in favor of the assessee, holding that no penalty under section 271(1)(a)(i)(b) is applicable when the tax deducted at source or paid in advance is equal to or exceeds the tax payable. The court emphasized that when the "assessed tax" is zero, no penalty can be imposed, aligning with the Supreme Court's decision in a related case. The judgment was against the Revenue, and no costs were awarded. en-us Fri, 12 Aug 1988 00:00:00 +0530 Thu, 21 Jan 2010 15:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24659 The court ruled in favor of the assessee, holding that no penalty under section 271(1)(a)(i)(b) is applicable when the tax deducted at source or paid in advance is equal to or exceeds the tax payable. The court emphasized that when the "assessed tax" is zero, no penalty can be imposed, aligning with the Supreme Court's decision in a related case. The judgment was against the Revenue, and no costs were awarded. Case-Laws Income Tax Fri, 12 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24659