https://www.taxtmi.com/caselaws?id=39360 The High Court of Calcutta ruled in favor of the assessee, M/s. Wesman Engineering Co. (P.) Ltd., in a case involving the interpretation of penalty provisions under section 140A of the Income-tax Act, 1961. The Court held that the penalty imposed by the Income-tax Officer was not mandatory and that there was no absolute duty to levy it. The Court affirmed the decision of the Tribunal, stating that the Income-tax Officer has the discretion not to impose a penalty. The penalty of Rs. 18,620 was deemed unjustified, and the Court concluded that it was not warranted in this instance. en-us Thu, 13 Nov 1975 00:00:00 +0530 Fri, 16 Apr 2010 10:11:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39360 The High Court of Calcutta ruled in favor of the assessee, M/s. Wesman Engineering Co. (P.) Ltd., in a case involving the interpretation of penalty provisions under section 140A of the Income-tax Act, 1961. The Court held that the penalty imposed by the Income-tax Officer was not mandatory and that there was no absolute duty to levy it. The Court affirmed the decision of the Tribunal, stating that the Income-tax Officer has the discretion not to impose a penalty. The penalty of Rs. 18,620 was deemed unjustified, and the Court concluded that it was not warranted in this instance. Case-Laws Income Tax Thu, 13 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39360