Penalty determination by law on date of default: delayed filing treated as single default, not continuous. Penalty is governed by the law in force on the date the wrongful act or default occurs: concealment penalties are judged by the law on the date the return with concealment is filed; delayed filing constitutes a single default on the last date allowed, with monthly multipliers used only to compute quantum. The rule applies to income-tax, wealth-tax and gift-tax penalties; prior contrary clarification is withdrawn and related appeals/references may be withdrawn.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty determination by law on date of default: delayed filing treated as single default, not continuous.
Penalty is governed by the law in force on the date the wrongful act or default occurs: concealment penalties are judged by the law on the date the return with concealment is filed; delayed filing constitutes a single default on the last date allowed, with monthly multipliers used only to compute quantum. The rule applies to income-tax, wealth-tax and gift-tax penalties; prior contrary clarification is withdrawn and related appeals/references may be withdrawn.
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