https://www.taxtmi.com/caselaws?id=12582 Penalty proceedings initiated before the omission of section 274(2) on 1 April 1976 remained validly pending, and the Inspecting Assistant Commissioner retained jurisdiction to complete them under section 271(1)(c). The statutory deletion did not divest authority over proceedings already commenced before the amendment. The Tribunal was therefore incorrect in cancelling the penalty for want of jurisdiction. en-us Wed, 30 Jan 2002 00:00:00 +0530 Wed, 20 May 2009 13:05:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12582 Penalty proceedings initiated before the omission of section 274(2) on 1 April 1976 remained validly pending, and the Inspecting Assistant Commissioner retained jurisdiction to complete them under section 271(1)(c). The statutory deletion did not divest authority over proceedings already commenced before the amendment. The Tribunal was therefore incorrect in cancelling the penalty for want of jurisdiction. Case-Laws Income Tax Wed, 30 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12582