https://www.taxtmi.com/caselaws?id=5915 Penalty under section 271(1)(a) of the Income-tax Act, 1961 applies where the return and assessment occur after 1 April 1962, even if the assessment year is 1961-62, because liability is linked to the continuing failure to furnish the return and the completion of assessment under the 1961 scheme. The provision quantifies penalty by reference to each month of default, treating non-filing as a continuing default rather than a one-time lapse on the due date. Article 20(1) does not bar application of the later Act on these facts, as the penalty under the earlier law could have been higher than the amount imposed under the 1961 Act. en-us Wed, 11 Dec 1985 00:00:00 +0530 Thu, 13 Feb 2014 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5915 Penalty under section 271(1)(a) of the Income-tax Act, 1961 applies where the return and assessment occur after 1 April 1962, even if the assessment year is 1961-62, because liability is linked to the continuing failure to furnish the return and the completion of assessment under the 1961 scheme. The provision quantifies penalty by reference to each month of default, treating non-filing as a continuing default rather than a one-time lapse on the due date. Article 20(1) does not bar application of the later Act on these facts, as the penalty under the earlier law could have been higher than the amount imposed under the 1961 Act. Case-Laws Income Tax Wed, 11 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5915