1978 (2) TMI 16 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, stating that no penalty under section 271(1)(a) was leviable as the tax paid was in excess of the tax assessed. The court distinguished a previous case where the payment was made before the penalty order, and held that the assessee was not liable to pay penalty in this case. The assessee was awarded costs, including counsel's fee of Rs. 300.