1980 (8) TMI 48 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the imposition of a penalty under section 273(c) of the Income-tax Act, 1961, on an assessee for failing to furnish an estimate of advance tax without reasonable cause. The court ruled that mens rea was not necessary for imposing such penalties. The decision was based on the similarity between sections 271(1)(a) and 273(c) of the Act. The court's answer to the legal question was in favor of the department.