Dear members,
I came across with an interesting situation. The situation is as follows:-
An assessee violated some of the provisions of the tax law.
As per provisions of the law he has to pay heavy penalty for the offence. This offence was committed four years back and continuing.
Meanwhile the taxation act in the third year was amended and the particular portion of the violation was removed and as per new amendement the act of asssessee is not at all violation.
However he is charged to pay penalty with reference to the old act reasoning that it is a continuing offence and the new act is applicable to the violation if any happened freshly.
Please tell your opinion, which may help me to enrich my knowledge.
Yours
Dr L Kailasam
CAclubindia
