https://www.taxtmi.com/caselaws?id=28952 The High Court of Madras upheld the Tribunal's decisions in favor of the assessee regarding the application of penalty provisions and the time limitation for penalty imposition. The court ruled that penalty calculation should align with the law in force at the time of default and that the amendment to section 18(5) extended the time limit for passing penalty orders, ensuring the validity of the penalties imposed. en-us Mon, 17 Dec 1979 00:00:00 +0530 Mon, 08 Mar 2010 18:03:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28952 The High Court of Madras upheld the Tribunal's decisions in favor of the assessee regarding the application of penalty provisions and the time limitation for penalty imposition. The court ruled that penalty calculation should align with the law in force at the time of default and that the amendment to section 18(5) extended the time limit for passing penalty orders, ensuring the validity of the penalties imposed. Case-Laws Wealth-tax Mon, 17 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28952