https://www.taxtmi.com/caselaws?id=38579 The High Court of Allahabad upheld the penalty imposed on a firm for a 17-month delay in filing its income tax return, despite the firm filing under section 139(4) of the Income-tax Act. The court emphasized that once an assessee is in default, the penalty provision under section 271(1)(a) applies, regardless of the filing section. The decision reinforces the importance of timely compliance with tax regulations to avoid penalties and protect revenue interests. en-us Fri, 21 May 1976 00:00:00 +0530 Wed, 07 Apr 2010 13:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38579 The High Court of Allahabad upheld the penalty imposed on a firm for a 17-month delay in filing its income tax return, despite the firm filing under section 139(4) of the Income-tax Act. The court emphasized that once an assessee is in default, the penalty provision under section 271(1)(a) applies, regardless of the filing section. The decision reinforces the importance of timely compliance with tax regulations to avoid penalties and protect revenue interests. Case-Laws Income Tax Fri, 21 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38579