1987 (7) TMI 63 - HC - Income Tax

Summary

The High Court of Andhra Pradesh upheld the penalty imposed under section 273(b) of the Income-tax Act, 1961 for the assessment year 1976-77. The court found that the renumbering of sections did not affect the power of the Income-tax Officer to levy the penalty. The Tribunal's decision to sustain the penalty was deemed justified.