https://www.taxtmi.com/caselaws?id=37943 The court upheld the imposition of penalty under Section 271(1)(a) of the Income Tax Act, 1961, ruling that filing returns under Section 139(4) does not absolve the assessee of default under Section 139(1). The Tribunal's deletion of penalties was deemed incorrect, and the levy of penalty was deemed valid. The court clarified that the period of default for penalty calculation should be limited to the relevant assessment year, despite a dissenting opinion on the duration of default by one judge. en-us Wed, 20 Sep 1978 00:00:00 +0530 Fri, 02 Apr 2010 12:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37943 The court upheld the imposition of penalty under Section 271(1)(a) of the Income Tax Act, 1961, ruling that filing returns under Section 139(4) does not absolve the assessee of default under Section 139(1). The Tribunal's deletion of penalties was deemed incorrect, and the levy of penalty was deemed valid. The court clarified that the period of default for penalty calculation should be limited to the relevant assessment year, despite a dissenting opinion on the duration of default by one judge. Case-Laws Income Tax Wed, 20 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37943