https://www.taxtmi.com/caselaws?id=25027 In the first case, the High Court held that penalties under section 271(1)(a) of the Income-tax Act can only be imposed for defaults within the assessment year and cannot extend to subsequent years. The Tribunal's decision to refund excess penalties was upheld, favoring the Revenue. In the second case, the High Court ruled that penalties for defaults under section 139(1) can be imposed even if returns are filed under section 139(4), disagreeing with previous views. The court clarified that penalties under section 271(1)(a) are applicable even after charging interest under section 139, rectifying the Tribunal's misdirection. en-us Fri, 29 Apr 1988 00:00:00 +0530 Sat, 23 Jan 2010 18:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25027 In the first case, the High Court held that penalties under section 271(1)(a) of the Income-tax Act can only be imposed for defaults within the assessment year and cannot extend to subsequent years. The Tribunal's decision to refund excess penalties was upheld, favoring the Revenue. In the second case, the High Court ruled that penalties for defaults under section 139(1) can be imposed even if returns are filed under section 139(4), disagreeing with previous views. The court clarified that penalties under section 271(1)(a) are applicable even after charging interest under section 139, rectifying the Tribunal's misdirection. Case-Laws Income Tax Fri, 29 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25027