https://www.taxtmi.com/caselaws?id=12774 Amendment of section 274 by the Taxation Laws (Amendment) Act, 1975 deleted sub-section (2) and divested the Inspecting Assistant Commissioner of jurisdiction to impose penalty under section 271(1)(c) where the reference was made after the amendment took effect. On the stated facts, the reassessments were completed in 1976 and the penalty orders were passed thereafter, so the penalties were without jurisdiction. The cancellation of the penalty orders was therefore upheld in favour of the assessee and against the Revenue. en-us Fri, 08 Dec 2000 00:00:00 +0530 Thu, 21 May 2009 18:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12774 Amendment of section 274 by the Taxation Laws (Amendment) Act, 1975 deleted sub-section (2) and divested the Inspecting Assistant Commissioner of jurisdiction to impose penalty under section 271(1)(c) where the reference was made after the amendment took effect. On the stated facts, the reassessments were completed in 1976 and the penalty orders were passed thereafter, so the penalties were without jurisdiction. The cancellation of the penalty orders was therefore upheld in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 08 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12774