1989 (7) TMI 71

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..... onsideration of this court "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the concealment of income occurred on the date when the original return of income was filed and not on the date when the return of income was filed in response to a notice under section 148 of the Income-tax Act, 1961, and in directing in that view that the penalt .....

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..... prior to April 1, 1968, penalty will have to be calculated under the law as it stood prior to that date, even though the return under section 148 was filed subsequent to that date. The said view is in consonance with the law laid down by the various High Courts in CIT v. A. Rm. A.L.A. Arunachalam Chettiar, AIR 1932 Mad 433, CIT v. Badridas Ramrai Shop [1939] 7 ITR 613(Nag), CIT v. Angara Satyam [ .....

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