1989 (9) TMI 81 - HC - Income Tax

Summary

The Bombay High Court ruled that mens rea is not essential for penalty under section 271(1)(a) of the Income-tax Act. The court also held that interest under section 139 is linked to penalty under section 271(1)(a). The case involved an assessee company for the assessment year 1970-71, where penalty was imposed for late filing of returns despite extensions granted. The court cited a Supreme Court decision in support of its ruling. The court did not address questions 1 and 3.