https://www.taxtmi.com/caselaws?id=57145 Penalty under section 271(1)(a) was not leviable where the return was filed late after notice under section 148 but the advance tax paid exceeded the tax ultimately assessed on reassessment. Because no assessed tax remained, the computation provision for this penalty could not operate on the facts, and delay alone was insufficient to sustain the levy. The cancellation of penalty was therefore upheld in favour of the assessee. en-us Tue, 23 Dec 1980 00:00:00 +0530 Wed, 08 Dec 2010 16:06:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57145 Penalty under section 271(1)(a) was not leviable where the return was filed late after notice under section 148 but the advance tax paid exceeded the tax ultimately assessed on reassessment. Because no assessed tax remained, the computation provision for this penalty could not operate on the facts, and delay alone was insufficient to sustain the levy. The cancellation of penalty was therefore upheld in favour of the assessee. Case-Laws Income Tax Tue, 23 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57145