Explanation 5A of Section 271(1)(c) Income Tax Act can't be applied retroactively; penalties before June 1, 2007, are exempt. https://www.taxtmi.com/highlights?id=36348 Penalty u/s 271(1)(c) - the amended provision of Explanation 5A made applicable w.r.e.f from 1.6.2007 cannot be pressed into service. en-us Mon, 18 Sep 2017 06:06:02 +0530 Mon, 18 Sep 2017 06:06:02 +0530 TaxTMI RSS Generator Explanation 5A of Section 271(1)(c) Income Tax Act can't be applied retroactively; penalties before June 1, 2007, are exempt. https://www.taxtmi.com/highlights?id=36348 Penalty u/s 271(1)(c) - the amended provision of Explanation 5A made applicable w.r.e.f from 1.6.2007 cannot be pressed into service. Highlights Income Tax Mon, 18 Sep 2017 06:06:02 +0530 https://www.taxtmi.com/highlights?id=36348