1984 (4) TMI 39 - HC - Income Tax

Summary

The High Court of Patna ruled that the quantum of penalty should be based on the law in force when the return was filed, not when the concealment occurred. The Tribunal misdirected itself, and the judgment favored the Revenue over the assessee. No costs were awarded. (Case citation: 1984 (4) TMI 39 - PATNA High Court)