https://www.taxtmi.com/caselaws?id=38623 The High Court of Madras upheld the imposition of penalties under section 271(1)(a) of the Income-tax Act for delays in submitting income tax returns for assessment years 1965-66 and 1966-67. Despite interest being collected under section 139(1), the Court ruled that the Income-tax Officer had jurisdiction to levy penalties as the returns were filed late without proper extensions. The Court rejected the argument that interest payment extended the filing deadline, affirming the lawfulness of the penalties imposed by the tax authorities. en-us Wed, 08 Sep 1976 00:00:00 +0530 Wed, 07 Apr 2010 16:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38623 The High Court of Madras upheld the imposition of penalties under section 271(1)(a) of the Income-tax Act for delays in submitting income tax returns for assessment years 1965-66 and 1966-67. Despite interest being collected under section 139(1), the Court ruled that the Income-tax Officer had jurisdiction to levy penalties as the returns were filed late without proper extensions. The Court rejected the argument that interest payment extended the filing deadline, affirming the lawfulness of the penalties imposed by the tax authorities. Case-Laws Income Tax Wed, 08 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38623