https://www.taxtmi.com/caselaws?id=27877 The court ruled in favor of the Revenue in a case involving penalty provisions under the Income-tax Act for a registered firm. The court held that penalties should be based on the tax payable by the registered firm, not the tax assessed on it as an unregistered firm. Additionally, the court determined that a penalty was imposable on the firm even if the tax payable was assessed as 'nil,' citing relevant precedents and legislative provisions. The judgment favored the Revenue, directing the parties to bear their own costs and affirming the imposition of penalties on the registered firm. en-us Wed, 05 Oct 1983 00:00:00 +0530 Tue, 16 Feb 2010 15:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27877 The court ruled in favor of the Revenue in a case involving penalty provisions under the Income-tax Act for a registered firm. The court held that penalties should be based on the tax payable by the registered firm, not the tax assessed on it as an unregistered firm. Additionally, the court determined that a penalty was imposable on the firm even if the tax payable was assessed as 'nil,' citing relevant precedents and legislative provisions. The judgment favored the Revenue, directing the parties to bear their own costs and affirming the imposition of penalties on the registered firm. Case-Laws Income Tax Wed, 05 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27877