https://www.taxtmi.com/caselaws?id=27585 The High Court upheld the validity of the penalty notice, rejected claims of limitation, and affirmed the sanction for the levy of penalty for deemed income. The Tribunal was directed to reassess the applicability of the Explanation to Section 271(1)(c) and rehear the appeal. The decision was made without costs. en-us Fri, 27 Jul 1984 00:00:00 +0530 Sat, 13 Feb 2010 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27585 The High Court upheld the validity of the penalty notice, rejected claims of limitation, and affirmed the sanction for the levy of penalty for deemed income. The Tribunal was directed to reassess the applicability of the Explanation to Section 271(1)(c) and rehear the appeal. The decision was made without costs. Case-Laws Income Tax Fri, 27 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27585