https://www.taxtmi.com/caselaws?id=27748 The court upheld the penalty imposed by the Income Tax Officer on a registered partnership firm for late filing of the return under section 271(1)(a) of the Income-tax Act, 1961. The Income-tax Appellate Tribunal initially canceled the penalty but reversed its decision based on retrospective amendments clarifying penalty calculation. The court emphasized the importance of tax payable for penalty imposition and the application of legal fiction provisions. Ultimately, the penalty was maintained in accordance with the revised provisions, treating the firm as unregistered for quantifying the penalty amount. en-us Wed, 22 Feb 1984 00:00:00 +0530 Mon, 15 Feb 2010 17:25:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27748 The court upheld the penalty imposed by the Income Tax Officer on a registered partnership firm for late filing of the return under section 271(1)(a) of the Income-tax Act, 1961. The Income-tax Appellate Tribunal initially canceled the penalty but reversed its decision based on retrospective amendments clarifying penalty calculation. The court emphasized the importance of tax payable for penalty imposition and the application of legal fiction provisions. Ultimately, the penalty was maintained in accordance with the revised provisions, treating the firm as unregistered for quantifying the penalty amount. Case-Laws Income Tax Wed, 22 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27748