https://www.taxtmi.com/caselaws?id=39053 Penalty proceedings for an assessment year under the Indian Income-tax Act, 1922 may be initiated and concluded under the Income-tax Act, 1961 where the transitional provision applies to assessments completed on or after 1 April 1962. Section 271(1)(c) of the 1961 Act therefore governs the applicable minimum penalty, despite the absence of a minimum penalty under the 1922 Act. Income-tax penalties are deterrent and additional tax consequences rather than criminal prosecutions for an offence. Article 20(1) of the Constitution does not protect against application of the penalty regime in force when proceedings are initiated under the statutory transitional provision. en-us Wed, 24 Nov 1971 00:00:00 +0530 Mon, 12 Apr 2010 12:17:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39053 Penalty proceedings for an assessment year under the Indian Income-tax Act, 1922 may be initiated and concluded under the Income-tax Act, 1961 where the transitional provision applies to assessments completed on or after 1 April 1962. Section 271(1)(c) of the 1961 Act therefore governs the applicable minimum penalty, despite the absence of a minimum penalty under the 1922 Act. Income-tax penalties are deterrent and additional tax consequences rather than criminal prosecutions for an offence. Article 20(1) of the Constitution does not protect against application of the penalty regime in force when proceedings are initiated under the statutory transitional provision. Case-Laws Income Tax Wed, 24 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39053