https://www.taxtmi.com/caselaws?id=5361 Assessee (HUF) failed to disclose profits from land sales; SC held penalty under amended s.271(1)(c) is determined by the law in force on the date of the offending return and the High Court correctly applied that principle. The Court rejected the argument that an earlier pre-amendment return should limit penalty exposure, noting differing measures of penalty applicable from 1 Apr 1968 and later from 1 Apr 1976, and affirmed that the High Court's view was correct. Appeals dismissed. en-us Fri, 13 Mar 1992 00:00:00 +0530 Fri, 24 Oct 2025 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5361 Assessee (HUF) failed to disclose profits from land sales; SC held penalty under amended s.271(1)(c) is determined by the law in force on the date of the offending return and the High Court correctly applied that principle. The Court rejected the argument that an earlier pre-amendment return should limit penalty exposure, noting differing measures of penalty applicable from 1 Apr 1968 and later from 1 Apr 1976, and affirmed that the High Court's view was correct. Appeals dismissed. Case-Laws Income Tax Fri, 13 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5361