https://www.taxtmi.com/caselaws?id=36495 The High Court held that the penalty under section 271(1)(a) of the Income Tax Act should be calculated based on the tax payable as if the firm were unregistered, even if tax had already been paid by the registered firm. The Court referred to a Supreme Court decision and the Direct Taxes (Amendment) Act, 1974, to support this interpretation. Consequently, the penalty was upheld, favoring the revenue. Each party was directed to bear their own costs. en-us Thu, 17 Jul 1980 00:00:00 +0530 Mon, 22 Mar 2010 16:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36495 The High Court held that the penalty under section 271(1)(a) of the Income Tax Act should be calculated based on the tax payable as if the firm were unregistered, even if tax had already been paid by the registered firm. The Court referred to a Supreme Court decision and the Direct Taxes (Amendment) Act, 1974, to support this interpretation. Consequently, the penalty was upheld, favoring the revenue. Each party was directed to bear their own costs. Case-Laws Income Tax Thu, 17 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36495