https://www.taxtmi.com/caselaws?id=9016 The court held that the Inspecting Assistant Commissioner lacked jurisdiction to impose a penalty based on income enhancement by the Appellate Assistant Commissioner. The penalty was reduced to Rs. 10,000, limited to the concealed income discovered by the Income-tax Officer. The court did not address the specific penalty reduction issue due to its dependency on the jurisdictional matter. Compliance with section 275 of the Income-tax Act, 1961, was deemed irrelevant as it was not raised during the appeal. The court made no order as to costs and assessed the counsel's fee at Rs. 200. en-us Fri, 07 Jan 1972 00:00:00 +0530 Thu, 18 Jun 2009 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9016 The court held that the Inspecting Assistant Commissioner lacked jurisdiction to impose a penalty based on income enhancement by the Appellate Assistant Commissioner. The penalty was reduced to Rs. 10,000, limited to the concealed income discovered by the Income-tax Officer. The court did not address the specific penalty reduction issue due to its dependency on the jurisdictional matter. Compliance with section 275 of the Income-tax Act, 1961, was deemed irrelevant as it was not raised during the appeal. The court made no order as to costs and assessed the counsel's fee at Rs. 200. Case-Laws Income Tax Fri, 07 Jan 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9016