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2010 (2) TMI 162 - PUNJAB AND HARYANA HIGH COURTPenalty- Failure to file the return- The assessee-respondent had failed to file return and on his death in an accident the assessee-respondent had filed the return. Thus, the question raised by the Revenue before the Commissioner of Income-tax (Appeals) was concerning imposition of penalty under section 140A(3) of the Act. The Tribunal rejected the aforesaid submission of the Revenue by observing that the provisions of section 140A(1) of the Act are attracted only when the assessee furnishes a return of income and section 140A(3) is to operate from the date when the return of income is furnished if such a return is not accompanied by payment of admitted taxes. Accordingly, the financial position at the time of filing of return alone is relevant. Accordingly, the plea raised by the Revenue was rejected. Held that- dismissing the appeal, that the cancellation of penalty was justified.
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