https://www.taxtmi.com/caselaws?id=38807 The High Court of Kerala ruled in favor of the revenue, determining that penalties under section 271(1)(c) of the Income-tax Act are additional taxes and should be calculated independently of the tax assessment timeline. The court held that the law as on the 1st April of the relevant assessment year should govern penalty proceedings, rejecting the argument that penalties should be based on the law in force at the time of filing the return. The tribunal was directed to reassess the penalties in accordance with this interpretation. en-us Wed, 09 Mar 1977 00:00:00 +0530 Fri, 09 Apr 2010 11:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38807 The High Court of Kerala ruled in favor of the revenue, determining that penalties under section 271(1)(c) of the Income-tax Act are additional taxes and should be calculated independently of the tax assessment timeline. The court held that the law as on the 1st April of the relevant assessment year should govern penalty proceedings, rejecting the argument that penalties should be based on the law in force at the time of filing the return. The tribunal was directed to reassess the penalties in accordance with this interpretation. Case-Laws Income Tax Wed, 09 Mar 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38807