https://www.taxtmi.com/caselaws?id=28566 The High Court affirmed the existence of a mistake apparent on the record due to a retrospective amendment, allowing the Tribunal to rectify the error. The Court upheld the penalty levy for belated filing of income tax returns despite full tax payment before the penalty imposition, emphasizing the amended provision's application based on assessed tax. The Tribunal's jurisdiction under section 254(2) to rectify mistakes was recognized, denying the assessee's argument against it. The Revenue was awarded costs, including counsel's fee of Rs. 500. en-us Thu, 10 Dec 1981 00:00:00 +0530 Tue, 23 Feb 2010 16:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28566 The High Court affirmed the existence of a mistake apparent on the record due to a retrospective amendment, allowing the Tribunal to rectify the error. The Court upheld the penalty levy for belated filing of income tax returns despite full tax payment before the penalty imposition, emphasizing the amended provision's application based on assessed tax. The Tribunal's jurisdiction under section 254(2) to rectify mistakes was recognized, denying the assessee's argument against it. The Revenue was awarded costs, including counsel's fee of Rs. 500. Case-Laws Income Tax Thu, 10 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28566