https://www.taxtmi.com/caselaws?id=39107 Penalty proceedings under the Indian Income-tax Act are independent of assessment proceedings and need not be concluded simultaneously with the original assessment. The authority may impose penalty after reassessment, provided the tax payable is quantified at the time of penalty and the statutory ceiling is calculated with reference to the amount then payable. A default in filing the original return remains punishable even after the original assessment has been reopened and superseded by reassessment. Accordingly, penalty under section 28(1)(a) was treated as validly imposable after reassessment, subject to the applicable limit. en-us Fri, 21 Jun 1974 00:00:00 +0530 Tue, 13 Apr 2010 10:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39107 Penalty proceedings under the Indian Income-tax Act are independent of assessment proceedings and need not be concluded simultaneously with the original assessment. The authority may impose penalty after reassessment, provided the tax payable is quantified at the time of penalty and the statutory ceiling is calculated with reference to the amount then payable. A default in filing the original return remains punishable even after the original assessment has been reopened and superseded by reassessment. Accordingly, penalty under section 28(1)(a) was treated as validly imposable after reassessment, subject to the applicable limit. Case-Laws Income Tax Fri, 21 Jun 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39107