https://www.taxtmi.com/caselaws?id=18063 The High Court of PUNJAB AND HARYANA addressed issues related to penalty imposition under section 271(1)(c) of the Income-tax Act for assessment years 1968-69 and 1969-70. The Court clarified that the Explanation in force at the time of filing returns should apply. It highlighted the importance of considering penalty imposition on merits and allowed the assessee to challenge penalties before the Commissioner of Income-tax (Appeals). The Court emphasized proper interpretation of tax laws and the need for a lawful assessment of penalties. en-us Tue, 16 Jul 1996 00:00:00 +0530 Sat, 26 Sep 2009 15:21:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18063 The High Court of PUNJAB AND HARYANA addressed issues related to penalty imposition under section 271(1)(c) of the Income-tax Act for assessment years 1968-69 and 1969-70. The Court clarified that the Explanation in force at the time of filing returns should apply. It highlighted the importance of considering penalty imposition on merits and allowed the assessee to challenge penalties before the Commissioner of Income-tax (Appeals). The Court emphasized proper interpretation of tax laws and the need for a lawful assessment of penalties. Case-Laws Income Tax Tue, 16 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18063