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1970 (9) TMI 30 - HC - Income TaxWhether, the penalty imposed on the assessee under section 27 1 (1)(a) for the assessment years 1960-61 and 1961-62 is liable to be cancelled - no force in the contention that the registration certificate being issued only on March 26, 1962, the assessee had an obligation to file a return under section 22(1). As we pointed out earlier, the certificate will have effect for the year of assessment and must therefore apply not only in regard to the assessment proceedings but in regard to the proceedings relating to the filing of the return - We, therefore, answer the question referred to us in the affirmative, that is, in favour of the assessee and against the department
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