https://www.taxtmi.com/caselaws?id=38883 The court held that the relevant date for determining the quantum of penalties under section 271(1)(c)(iii) of the Income-tax Act, 1961, is the date of filing the original returns when the concealment occurred, not the date of completion of reassessment. The court emphasized that penalties for infractions occur when the offense is committed, not when it is detected. Therefore, the law in effect at the time of filing the original returns should apply. The decision favored the assessee, with costs awarded against the revenue. en-us Fri, 26 Dec 1975 00:00:00 +0530 Sat, 10 Apr 2010 11:55:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38883 The court held that the relevant date for determining the quantum of penalties under section 271(1)(c)(iii) of the Income-tax Act, 1961, is the date of filing the original returns when the concealment occurred, not the date of completion of reassessment. The court emphasized that penalties for infractions occur when the offense is committed, not when it is detected. Therefore, the law in effect at the time of filing the original returns should apply. The decision favored the assessee, with costs awarded against the revenue. Case-Laws Income Tax Fri, 26 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38883