https://www.taxtmi.com/caselaws?id=5513 The appeals were allowed, and the order of the Settlement Commission dropping penalty proceedings for assessment years 1970-71 to 1974-75 was set aside. The Commission's directions were deemed to have exceeded its jurisdiction, and the penalty proceedings were directed to proceed according to law. The Settlement Commission was instructed to modify its judgment accordingly, and the appellants were awarded costs amounting to a consolidated sum of rupees twenty thousand. en-us Mon, 11 Mar 1996 00:00:00 +0530 Wed, 20 Apr 2016 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5513 The appeals were allowed, and the order of the Settlement Commission dropping penalty proceedings for assessment years 1970-71 to 1974-75 was set aside. The Commission's directions were deemed to have exceeded its jurisdiction, and the penalty proceedings were directed to proceed according to law. The Settlement Commission was instructed to modify its judgment accordingly, and the appellants were awarded costs amounting to a consolidated sum of rupees twenty thousand. Case-Laws Income Tax Mon, 11 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5513