https://www.taxtmi.com/caselaws?id=35925 Penalty under section 271(1)(a) of the Income-tax Act, 1961 could be levied for assessment years ending before the Act commenced where the assessments were completed after 1 April 1962. The Tribunal's view that only the Indian Income-tax Act, 1922 could apply was displaced by the later Supreme Court ruling reversing the Mysore High Court and the principle in Jain Brothers. The question was therefore answered in the affirmative, in favour of the Revenue. en-us Fri, 03 Jul 1981 00:00:00 +0530 Thu, 18 Mar 2010 10:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35925 Penalty under section 271(1)(a) of the Income-tax Act, 1961 could be levied for assessment years ending before the Act commenced where the assessments were completed after 1 April 1962. The Tribunal's view that only the Indian Income-tax Act, 1922 could apply was displaced by the later Supreme Court ruling reversing the Mysore High Court and the principle in Jain Brothers. The question was therefore answered in the affirmative, in favour of the Revenue. Case-Laws Income Tax Fri, 03 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35925