1985 (12) TMI 7 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled in favor of the Revenue in a case involving a penalty imposed under section 271(1)(a) of the Income-tax Act. The Tribunal was not justified in setting aside the penalty solely due to a calculation error by the Income-tax Officer without considering the existence of sufficient cause for the delay in filing the return. The Tribunal was directed to reconsider the matter in light of the explanation provided by the assessee.