https://www.taxtmi.com/caselaws?id=36074 The court ruled in favor of the assessee, determining that the penalty for concealing income should be calculated under the unamended provision of section 271(1)(c) of the Income Tax Act. It was held that there was a single offense of concealment committed on September 30, 1965, when the original and revised returns were filed with identical facts. The court emphasized the discretionary nature of imposing penalties in quasi-criminal proceedings and considered the relevant circumstances before imposing the penalty. en-us Mon, 11 Feb 1980 00:00:00 +0530 Fri, 19 Mar 2010 11:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36074 The court ruled in favor of the assessee, determining that the penalty for concealing income should be calculated under the unamended provision of section 271(1)(c) of the Income Tax Act. It was held that there was a single offense of concealment committed on September 30, 1965, when the original and revised returns were filed with identical facts. The court emphasized the discretionary nature of imposing penalties in quasi-criminal proceedings and considered the relevant circumstances before imposing the penalty. Case-Laws Income Tax Mon, 11 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36074