https://www.taxtmi.com/caselaws?id=38680 The High Court of Orissa addressed the penalty imposable under section 271(1)(c) of the Income-tax Act, 1961, in a case involving an assessee whose assessment was reopened. The court held that the penalty amount should be calculated based on the law in force when the Income-tax Officer initiated penalty proceedings, applying the amended provision increasing the penalty. Therefore, the penalty was determined according to the law in force at the time of initiating penalty proceedings, resulting in the imposition of a penalty based on the amended provision. en-us Tue, 23 Aug 1977 00:00:00 +0530 Thu, 08 Apr 2010 12:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38680 The High Court of Orissa addressed the penalty imposable under section 271(1)(c) of the Income-tax Act, 1961, in a case involving an assessee whose assessment was reopened. The court held that the penalty amount should be calculated based on the law in force when the Income-tax Officer initiated penalty proceedings, applying the amended provision increasing the penalty. Therefore, the penalty was determined according to the law in force at the time of initiating penalty proceedings, resulting in the imposition of a penalty based on the amended provision. Case-Laws Income Tax Tue, 23 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38680