https://www.taxtmi.com/caselaws?id=27268 A penalty under the Income-tax Act, 1961 may be imposed for a default committed under the corresponding obligation in the Indian Income-tax Act, 1922 where the successor provision makes that default punishable. The earlier view that such penalty could not be levied was stated to be no longer good law because it had been overruled. The governing principle was that the later penalty provision could operate in respect of the earlier default, so the fact that the breach arose under the repealed enactment did not defeat the legal basis of penalty. The issue was answered against the assessee, and penalty was held sustainable in principle. en-us Fri, 24 Aug 1984 00:00:00 +0530 Thu, 11 Feb 2010 17:27:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27268 A penalty under the Income-tax Act, 1961 may be imposed for a default committed under the corresponding obligation in the Indian Income-tax Act, 1922 where the successor provision makes that default punishable. The earlier view that such penalty could not be levied was stated to be no longer good law because it had been overruled. The governing principle was that the later penalty provision could operate in respect of the earlier default, so the fact that the breach arose under the repealed enactment did not defeat the legal basis of penalty. The issue was answered against the assessee, and penalty was held sustainable in principle. Case-Laws Income Tax Fri, 24 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27268