https://www.taxtmi.com/caselaws?id=35821 The Delhi High Court applied the transitional scheme and Jain Brothers to hold that section 271(1)(a) of the Income-tax Act, 1961 governed defaults carried over from the 1922 Act, so the penalty could not be reduced by splitting the period of default before and after 1 April 1962. It further held that a default under section 28(1) of the 1922 Act could attract penalty under the 1961 Act where the saving and transitional provisions applied, and that filing returns in forms prescribed under the 1922 Act did not bar imposition of penalty under the new regime. The challenge to reduction of penalty failed, and the penalty was upheld. en-us Thu, 22 Nov 1979 00:00:00 +0530 Wed, 17 Mar 2010 10:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35821 The Delhi High Court applied the transitional scheme and Jain Brothers to hold that section 271(1)(a) of the Income-tax Act, 1961 governed defaults carried over from the 1922 Act, so the penalty could not be reduced by splitting the period of default before and after 1 April 1962. It further held that a default under section 28(1) of the 1922 Act could attract penalty under the 1961 Act where the saving and transitional provisions applied, and that filing returns in forms prescribed under the 1922 Act did not bar imposition of penalty under the new regime. The challenge to reduction of penalty failed, and the penalty was upheld. Case-Laws Income Tax Thu, 22 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35821