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1973 (4) TMI 36 - JAMMU AND KASHMIR HIGH COURT
Extract:
....... under section 271(1)(a) of the new Act for committing default in filing the return of income. We, therefore, answer the reference in the negative and hold that, on the facts and in the circumstances of the case, the penalty was not exigible. In the circumstances of the case, we leave the parties to bear their own costs. S. M. F. ALI C.J.--I agree.