https://www.taxtmi.com/caselaws?id=36682 The High Court of PUNJAB AND HARYANA held that tax paid on self-assessment under section 140A should not be excluded from calculating the net tax payable for penalty imposition under section 273(a) of the Income-tax Act, 1961. The Court ruled in favor of the Revenue, determining that penalty under section 273(a) should be based only on advance tax paid and tax deducted at source, excluding tax paid on self-assessment. The judgment emphasized the legislative intent behind the provisions of the Act in accurately applying penalty assessments. en-us Tue, 15 Apr 1980 00:00:00 +0530 Wed, 24 Mar 2010 10:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36682 The High Court of PUNJAB AND HARYANA held that tax paid on self-assessment under section 140A should not be excluded from calculating the net tax payable for penalty imposition under section 273(a) of the Income-tax Act, 1961. The Court ruled in favor of the Revenue, determining that penalty under section 273(a) should be based only on advance tax paid and tax deducted at source, excluding tax paid on self-assessment. The judgment emphasized the legislative intent behind the provisions of the Act in accurately applying penalty assessments. Case-Laws Income Tax Tue, 15 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36682