TMI Blog1989 (9) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of the assessee are : "(1) Whether the Tribunal erred in law in holding that mens rea is not an essential ingredient for imposition of penalty under section 271 (1) (a) of the Income-tax Act, 1961 ? (2) Whether the Tribunal erred in law in holding that the levy of interest under section 139 has nothing to do with the levy of penalty under section 271 (1) (a) of the Income-tax Act, 1961 ? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment, the Income-tax Officer charged interest under proviso (iii) to section 139(1) of the Income-tax Act for the period from October 1, 1970, up to December 23, 1970. He also initiated penalty proceedings under section 271(1)(a) and required the assessee to show cause why penalty under that section should not be levied. The assessee's explanation that it was prevented by reasonable cause in not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of fact. However, interest under proviso (iii) to section 139(1) was charged. The Supreme Court approved the view taken by the High Court that the time for filing the return should be deemed to have been extended by the Income-tax Officer and once the time for filing the return is deemed to have been extended, there is no question of imposition of penalty under section 271(1)(a) on the ground t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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