https://www.taxtmi.com/caselaws?id=5183 For concealment penalty under section 271(1)(c) of the Income-tax Act, the operative date is the date on which the return containing withheld or inaccurate particulars is filed. Penalty liability is therefore governed by the law in force on that date, not by the law applicable at the start of the relevant assessment year. The Karnataka High Court distinguished cases involving special transitional provisions and held that, absent contrary statutory direction, an amended penalty provision applies to returns filed after the amendment came into force. The amended provision was applied to the returns in question because they were filed after 1 April 1968. en-us Wed, 12 Apr 1978 00:00:00 +0530 Wed, 24 Oct 2018 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5183 For concealment penalty under section 271(1)(c) of the Income-tax Act, the operative date is the date on which the return containing withheld or inaccurate particulars is filed. Penalty liability is therefore governed by the law in force on that date, not by the law applicable at the start of the relevant assessment year. The Karnataka High Court distinguished cases involving special transitional provisions and held that, absent contrary statutory direction, an amended penalty provision applies to returns filed after the amendment came into force. The amended provision was applied to the returns in question because they were filed after 1 April 1968. Case-Laws Income Tax Wed, 12 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5183