https://www.taxtmi.com/caselaws?id=35934 Penalty under section 271(1)(a) for failure to furnish a return within time was held leviable even though the assessed tax had been paid before the penalty order and no tax remained outstanding on that date. The court treated the default as complete once the return was not filed within time, and held that later payment after assessment and demand did not erase the earlier statutory breach. The computation of penalty was governed by the assessed tax and the demand under section 156, so the subsequent discharge of liability did not defeat the penalty. en-us Tue, 17 Feb 1981 00:00:00 +0530 Thu, 18 Mar 2010 10:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35934 Penalty under section 271(1)(a) for failure to furnish a return within time was held leviable even though the assessed tax had been paid before the penalty order and no tax remained outstanding on that date. The court treated the default as complete once the return was not filed within time, and held that later payment after assessment and demand did not erase the earlier statutory breach. The computation of penalty was governed by the assessed tax and the demand under section 156, so the subsequent discharge of liability did not defeat the penalty. Case-Laws Income Tax Tue, 17 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35934