https://www.taxtmi.com/caselaws?id=9172 Penalty proceedings were treated as independent of assessment, so the governing law was the law in force when assessment was completed. On that basis, section 297(2)(g) of the Income-tax Act, 1961 applied to penalty proceedings completed after 1 April 1962 even for earlier assessment years, and the prior disruption of the Hindu undivided family did not confer any vested right to avoid the new penalty regime. However, for the later assessment year where the family had already disrupted before the year of account began, the non-existent HUF could not be treated as an assessee in default, so penalty under section 221 was not sustainable for that year. en-us Tue, 21 Dec 1971 00:00:00 +0530 Sat, 20 Jun 2009 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9172 Penalty proceedings were treated as independent of assessment, so the governing law was the law in force when assessment was completed. On that basis, section 297(2)(g) of the Income-tax Act, 1961 applied to penalty proceedings completed after 1 April 1962 even for earlier assessment years, and the prior disruption of the Hindu undivided family did not confer any vested right to avoid the new penalty regime. However, for the later assessment year where the family had already disrupted before the year of account began, the non-existent HUF could not be treated as an assessee in default, so penalty under section 221 was not sustainable for that year. Case-Laws Income Tax Tue, 21 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9172