https://www.taxtmi.com/caselaws?id=8996 Penalty imposed under the transitional provisions of the Income-tax Act, 1961 did not attract the prosecution bar in section 28(4) of the Indian Income-tax Act, 1922, because that protection applied only where penalty was imposed under the 1922 Act itself. The new Act contained no corresponding prohibition, and the saving provision did not preserve the old bar for penalties levied under the 1961 Act. A prosecution under section 277 of the Income-tax Act, 1961 was also maintainable on allegations of filing a false profit and loss account and balance-sheet, since the provision extends to false accounts or statements and the sufficiency of ingredients was a matter for trial. en-us Wed, 25 Oct 1972 00:00:00 +0530 Thu, 18 Jun 2009 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8996 Penalty imposed under the transitional provisions of the Income-tax Act, 1961 did not attract the prosecution bar in section 28(4) of the Indian Income-tax Act, 1922, because that protection applied only where penalty was imposed under the 1922 Act itself. The new Act contained no corresponding prohibition, and the saving provision did not preserve the old bar for penalties levied under the 1961 Act. A prosecution under section 277 of the Income-tax Act, 1961 was also maintainable on allegations of filing a false profit and loss account and balance-sheet, since the provision extends to false accounts or statements and the sufficiency of ingredients was a matter for trial. Case-Laws Income Tax Wed, 25 Oct 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8996