Sec. 273(2)(a)

Sec. 256(2), Sec. 273(2)(a), Section 256, Section 273

S.C : Whether when the AO as well as the CIT(A) had given a categorical finding that the assessee had acted in conscious disregard of its statutory obligation with a view to reduce the quantum of its legitimate and proper advance tax liability, the Tribunal was right in law and on fact in holding that this was not a fit case for levy of penalty under s. 273(2)(a) of the IT Act, 1961 ?

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Supreme Court Of India CIT vs. Gujarat Alkalies & Chemicals Ltd. Sections 256(2), 273(2)(a) M. Srinivasan & U.C. Banerjee, JJ.

Sec. 273(2)(a), Sec. 273(2)(c), Section 215, Section 273

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that, for the purpose of determining the quantum of penalty leviable under s. 273(1)(b) of the IT Act, 1961, the amount of tax ‘deductible’ at source under ss. 194 and 195 of the said Act has to be taken into consideration in computing the ‘assessed tax’ as defined under s. 215(5) of the said Act ?

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High Court Of Calcutta CIT vs. Borhat Tea Co. Ltd. Sections 215(5), 273(1)(b), 273(2)(c) Asst. Year 1981-82 Ajit K. Sengupta

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