https://www.taxtmi.com/caselaws?id=193249 Section 28 of the Income-tax Act, 1922 falls within the Central Legislature's power to tax income, including ancillary anti-evasion measures and penalties for concealment or inaccurate particulars. Its penalty regime does not violate article 14 merely because prosecution may also arise: penalty is remedial and compensatory, whereas prosecution is punitive, and the statutory bar on prosecution after penalty is a concession. Penalty proceedings may continue after assessment is completed if initiated while assessment proceedings were pending, because the final assessment determines the penalty quantum. Penalty levies initiated in time were therefore legally sustainable. en-us Fri, 06 May 1955 00:00:00 +0530 Thu, 20 Jul 2017 12:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193249 Section 28 of the Income-tax Act, 1922 falls within the Central Legislature's power to tax income, including ancillary anti-evasion measures and penalties for concealment or inaccurate particulars. Its penalty regime does not violate article 14 merely because prosecution may also arise: penalty is remedial and compensatory, whereas prosecution is punitive, and the statutory bar on prosecution after penalty is a concession. Penalty proceedings may continue after assessment is completed if initiated while assessment proceedings were pending, because the final assessment determines the penalty quantum. Penalty levies initiated in time were therefore legally sustainable. Case-Laws Income Tax Fri, 06 May 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193249