https://www.taxtmi.com/caselaws?id=39794 The court ruled against the assessee regarding the applicability of the amended provisions to penalty proceedings under Section 271(1)(c) of the Income-tax Act, 1961. It held that the amended provisions applied since the return was filed after 1st April 1964, regardless of the assessment year. The court directed the Tribunal to determine whether the penalty cancellation was justified based on findings regarding fraud or willful neglect by the assessee. The case outcome favored the department on the first issue and required further examination by the Tribunal on the second issue. en-us Thu, 21 Feb 1974 00:00:00 +0530 Tue, 20 Apr 2010 13:07:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39794 The court ruled against the assessee regarding the applicability of the amended provisions to penalty proceedings under Section 271(1)(c) of the Income-tax Act, 1961. It held that the amended provisions applied since the return was filed after 1st April 1964, regardless of the assessment year. The court directed the Tribunal to determine whether the penalty cancellation was justified based on findings regarding fraud or willful neglect by the assessee. The case outcome favored the department on the first issue and required further examination by the Tribunal on the second issue. Case-Laws Income Tax Thu, 21 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39794