https://www.taxtmi.com/caselaws?id=211602 The court held that penalties under section 272A(2)(f) could not be levied for defaults before 01/06/1992 due to the absence of a statutory obligation to file the prescribed form. It also ruled that the proviso to section 272A, limiting penalties to the amount of tax deductible, should be given retrospective effect. The court upheld the Tribunal's decision, dismissing the appeals in favor of the assessee and against the revenue. en-us Fri, 16 Mar 2012 00:00:00 +0530 Tue, 27 Mar 2012 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211602 The court held that penalties under section 272A(2)(f) could not be levied for defaults before 01/06/1992 due to the absence of a statutory obligation to file the prescribed form. It also ruled that the proviso to section 272A, limiting penalties to the amount of tax deductible, should be given retrospective effect. The court upheld the Tribunal's decision, dismissing the appeals in favor of the assessee and against the revenue. Case-Laws Income Tax Fri, 16 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211602