https://www.taxtmi.com/caselaws?id=29568 The High Court of Gujarat held that the Tribunal's decision to cancel the penalty under section 271(1)(a) was based on the legal position before the retrospective amendment by the Direct Taxes (Amendment) Act, 1974. The court concluded that the question referred did not encompass the retrospective amendment and was limited to whether the Tribunal erred in not considering section 271(2) along with section 271(1)(a)(i). Consequently, the court declined to answer the question posed, as it did not arise out of the Tribunal's order. en-us Tue, 01 Sep 1981 00:00:00 +0530 Sat, 13 Mar 2010 17:30:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29568 The High Court of Gujarat held that the Tribunal's decision to cancel the penalty under section 271(1)(a) was based on the legal position before the retrospective amendment by the Direct Taxes (Amendment) Act, 1974. The court concluded that the question referred did not encompass the retrospective amendment and was limited to whether the Tribunal erred in not considering section 271(2) along with section 271(1)(a)(i). Consequently, the court declined to answer the question posed, as it did not arise out of the Tribunal's order. Case-Laws Income Tax Tue, 01 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29568