https://www.taxtmi.com/caselaws?id=27661 The court found that Section 140A(3) of the Income-tax Act, 1961 was constitutional and not violative of the right to property. It held that the penalty provision was a legitimate measure to ensure compliance with tax obligations. Regarding the penalty imposed under Section 140A(3), the court remanded the case to the Tribunal for a fresh decision, emphasizing the need for the Income-tax Officer to exercise discretion reasonably and consider all circumstances before imposing a penalty. The writ petition was partly allowed, setting aside the Tribunal's order and directing a reevaluation of the penalty imposition. en-us Tue, 19 Jul 1983 00:00:00 +0530 Mon, 15 Feb 2010 12:28:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27661 The court found that Section 140A(3) of the Income-tax Act, 1961 was constitutional and not violative of the right to property. It held that the penalty provision was a legitimate measure to ensure compliance with tax obligations. Regarding the penalty imposed under Section 140A(3), the court remanded the case to the Tribunal for a fresh decision, emphasizing the need for the Income-tax Officer to exercise discretion reasonably and consider all circumstances before imposing a penalty. The writ petition was partly allowed, setting aside the Tribunal's order and directing a reevaluation of the penalty imposition. Case-Laws Income Tax Tue, 19 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27661