https://www.taxtmi.com/caselaws?id=17336 The court ruled in favor of the Revenue, stating that the penalty for concealing income should be calculated based on the law in force at the time of filing the return, not at the time of initiating penalty proceedings. The court emphasized the importance of considering the timeline of events and specific circumstances in determining the applicable law for penalty quantification in cases of income concealment under section 271(1)(c) of the Income-tax Act, 1961. en-us Wed, 26 Feb 1997 00:00:00 +0530 Mon, 21 Sep 2009 16:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17336 The court ruled in favor of the Revenue, stating that the penalty for concealing income should be calculated based on the law in force at the time of filing the return, not at the time of initiating penalty proceedings. The court emphasized the importance of considering the timeline of events and specific circumstances in determining the applicable law for penalty quantification in cases of income concealment under section 271(1)(c) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 26 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17336