Supreme Court of India
Amin Chand Payarelal v. Inspecting Assti. Commissioner, Income Tax and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that the penalty could be levied in the present case under Section 27l(l)(a) of the Act.
Judgment, page 7
From the headnote
Income Tax Act, 1961--Sections 139(4) and 271(/)(a)-Filing of return beyond the extended period under s.139(4)-Penalty-lmposition of- Justification-Held: Provision that assessee may file return any time before assessment is made would not absolve assessee from the liability to pay penalty-Even if assessee deposits interest for late filing, penalty, could be levied under s.271 (/)(a). The question which arose for consideration in the present appeal was that when return has been filed beyond the extended period for filing under section 139(4) of the Income Tax Act, 1961 and the assessee has
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