https://www.taxtmi.com/caselaws?id=27959 The High Court of Madhya Pradesh ruled against the assessee in a case concerning penalty imposition for concealed income filed in response to a notice under section 148 of the Income Tax Act, 1961 for the assessment year 1964-65. The Court held that the default leading to penalty imposition is determined by the return filed in response to the notice, not the original assessment proceedings. Consequently, the amended provisions of section 271(1)(c) were deemed applicable, overturning the Tribunal's decision and ruling in favor of the Revenue. en-us Wed, 03 Sep 1980 00:00:00 +0530 Wed, 17 Feb 2010 11:06:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27959 The High Court of Madhya Pradesh ruled against the assessee in a case concerning penalty imposition for concealed income filed in response to a notice under section 148 of the Income Tax Act, 1961 for the assessment year 1964-65. The Court held that the default leading to penalty imposition is determined by the return filed in response to the notice, not the original assessment proceedings. Consequently, the amended provisions of section 271(1)(c) were deemed applicable, overturning the Tribunal's decision and ruling in favor of the Revenue. Case-Laws Income Tax Wed, 03 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27959