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The High Court of Madras held that penalties under the Income-tax Act of 1961 can be imposed for assessments prior to 1962-63. The penalty must be calculated from the date of default, not from April 1, 1962.
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Home
The High Court of Madras held that penalties under the Income-tax Act of 1961 can be imposed for assessments prior to 1962-63. The penalty must be calculated from the date of default, not from April 1, 1962.
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