Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1992 (4) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1992 (4) TMI 5 - SC - Income TaxWhether, on the facts and circumstances, the Tribunal is justified in law in cancelling the penalty levied on the assessee under section 271(1)(a) for the three assessment years 1964-65 to 1966-67 ? Held that:- The Revenue is entitled to succeed. As a matter of fact, the very question with which we are concerned is no longer res integra as has rightly been pointed out by Mr. Ramamurthy. In Gujarat Travancore Agency v. CIT [1989 (5) TMI 1 - SUPREME Court] wherein held that there is nothing in section 271(1)(a) which requires that mens rea must be proved before penalty can be levied under that provision.
|