PRINCIPAL COMMISSIONER OF INCOME TAX RAJBAGH SRINAGAR vs. M/S GRAVITA METAL INC INDUSTRIAL ESTATE KATHUIA J AND K
ITA/1/2024HC J&K31 Oct 2024
Bench: HON'BLE THE CHIEF JUSTICE,HON'BLE MR. JUSTICE MA CHOWDHARY
Section 12Section 17Section 4Section 6Section 67Section 69
25. Penalty is not merely sanction. It is not merely
adjunct to assessment. It is not merely consequential to
assessment. It is not merely machinery. Penalty is in addition to
tax and is a liability under the Act. Reference may be made
to section 28 of the Indian Income-tax Act, 1922 where penalty
is provided for concealment of income
