https://www.taxtmi.com/caselaws?id=9132 Section 3(1)(c) of the Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964 validates recovery proceedings, including penalty, despite later reduction of the assessed tax demand. The first proviso limits recovery only to the extent that any penalty exceeding the finally determined Government dues cannot be retained and, if already collected, must be refunded. Subsequent reduction of the tax demand does not by itself invalidate the penalty orders, and equitable considerations cannot override the statute. The assessee was therefore entitled only to refund of any excess protected by the proviso, not to refund of the entire penalty. en-us Wed, 13 Dec 1972 00:00:00 +0530 Fri, 19 Jun 2009 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9132 Section 3(1)(c) of the Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964 validates recovery proceedings, including penalty, despite later reduction of the assessed tax demand. The first proviso limits recovery only to the extent that any penalty exceeding the finally determined Government dues cannot be retained and, if already collected, must be refunded. Subsequent reduction of the tax demand does not by itself invalidate the penalty orders, and equitable considerations cannot override the statute. The assessee was therefore entitled only to refund of any excess protected by the proviso, not to refund of the entire penalty. Case-Laws Income Tax Wed, 13 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9132