1990 (10) TMI 6 - SC - Income Tax

Return filed beyond time - Tribunal was justified in holding that, by the levy of interest under section 139 of the Income-tax Act, 1961, the Income-tax Officer must be deemed to have granted time up to the date of filing the return of income - penalty u/s 271(1)(a) not leviable.

Summary

The Supreme Court dismissed the appeals against the High Court of Andhra Pradesh's orders. The Income-tax Appellate Tribunal did not refer certain questions of law to the High Court. The Court found that one question's answer favored the respondent assessee, making the other questions irrelevant. The appeals were dismissed with no costs.