https://www.taxtmi.com/caselaws?id=8955 The court upheld the validity of penalty proceedings by the Appellate Assistant Commissioner under the Income-tax Act, 1961. The Appellate Assistant Commissioner imposed a penalty for concealing income, which was later reduced by the Tribunal. The court determined that the Appellate Assistant Commissioner had the jurisdiction to initiate penalty proceedings under section 271(1)(c) of the Act, emphasizing that the satisfaction of concealment of income during any proceedings empowered either the Income-tax Officer or the Appellate Assistant Commissioner to impose a penalty. The court affirmed the Tribunal's decision, ruling in favor of the Commissioner and awarding costs. en-us Thu, 23 Dec 1971 00:00:00 +0530 Wed, 17 Jun 2009 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8955 The court upheld the validity of penalty proceedings by the Appellate Assistant Commissioner under the Income-tax Act, 1961. The Appellate Assistant Commissioner imposed a penalty for concealing income, which was later reduced by the Tribunal. The court determined that the Appellate Assistant Commissioner had the jurisdiction to initiate penalty proceedings under section 271(1)(c) of the Act, emphasizing that the satisfaction of concealment of income during any proceedings empowered either the Income-tax Officer or the Appellate Assistant Commissioner to impose a penalty. The court affirmed the Tribunal's decision, ruling in favor of the Commissioner and awarding costs. Case-Laws Income Tax Thu, 23 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8955