https://www.taxtmi.com/caselaws?id=26181 The High Court held that the penalty under section 271(1)(c) of the Income-tax Act for the assessment year 1961-62 should be determined based on the law as amended from April 1, 1968, following the principle that penalties are calculated according to the law in force at the time of the act of concealment. The Court rejected the plea for a reduced penalty based on sympathy, stating that advisory jurisdiction does not permit such considerations. The Court suggested that sympathetic factors could be considered by income-tax authorities during Tribunal reviews. No order was issued regarding the costs of the reference. en-us Tue, 24 Sep 1985 00:00:00 +0530 Wed, 03 Feb 2010 13:10:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26181 The High Court held that the penalty under section 271(1)(c) of the Income-tax Act for the assessment year 1961-62 should be determined based on the law as amended from April 1, 1968, following the principle that penalties are calculated according to the law in force at the time of the act of concealment. The Court rejected the plea for a reduced penalty based on sympathy, stating that advisory jurisdiction does not permit such considerations. The Court suggested that sympathetic factors could be considered by income-tax authorities during Tribunal reviews. No order was issued regarding the costs of the reference. Case-Laws Income Tax Tue, 24 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26181