https://www.taxtmi.com/caselaws?id=18426 The Tribunal's view that the Inspecting Assistant Commissioner lacked jurisdiction to impose penalty under section 271(1)(c) after 1 April 1976 was based on an earlier High Court ruling interpreting the Taxation Laws (Amendment) Act, 1975. That ruling had since been reversed by the Supreme Court, so the foundation for cancelling the penalty no longer survived. The High Court therefore set aside the Tribunal's order and remanded the matter for fresh decision on the merits in line with the Supreme Court's ruling. en-us Tue, 02 Apr 1996 00:00:00 +0530 Wed, 30 Sep 2009 18:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18426 The Tribunal's view that the Inspecting Assistant Commissioner lacked jurisdiction to impose penalty under section 271(1)(c) after 1 April 1976 was based on an earlier High Court ruling interpreting the Taxation Laws (Amendment) Act, 1975. That ruling had since been reversed by the Supreme Court, so the foundation for cancelling the penalty no longer survived. The High Court therefore set aside the Tribunal's order and remanded the matter for fresh decision on the merits in line with the Supreme Court's ruling. Case-Laws Income Tax Tue, 02 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18426