1980 (2) TMI 156 - AT - Income Tax

Summary

The departmental appeal was against the AAC's order to modify the penalty under section 140A(3) of the IT Act for the assessment year 1976-77. The AAC directed the ITO to calculate the penalty from the date of filing the return to the date of service of the notice of demand. The Tribunal upheld the AAC's order, stating that penalty for default in complying with the demand is leviable under other provisions of the Act. The appeal was dismissed.