https://www.taxtmi.com/caselaws?id=21157 The High Court of Calcutta ruled in favor of the Revenue, holding that the Inspecting Assistant Commissioner did not lose jurisdiction over penalty proceedings under section 271(1)(c) of the Income-tax Act, 1961, despite the omission of section 274(2) from the statute book. The Court emphasized that the jurisdiction of the Commissioner should be determined at the time of reference and not affected by subsequent legal changes unless expressly provided. The Tribunal's decision to cancel the penalty order was overturned, highlighting the importance of considering jurisdiction at the initiation of proceedings. en-us Tue, 16 May 1989 00:00:00 +0530 Fri, 20 Nov 2009 13:56:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21157 The High Court of Calcutta ruled in favor of the Revenue, holding that the Inspecting Assistant Commissioner did not lose jurisdiction over penalty proceedings under section 271(1)(c) of the Income-tax Act, 1961, despite the omission of section 274(2) from the statute book. The Court emphasized that the jurisdiction of the Commissioner should be determined at the time of reference and not affected by subsequent legal changes unless expressly provided. The Tribunal's decision to cancel the penalty order was overturned, highlighting the importance of considering jurisdiction at the initiation of proceedings. Case-Laws Income Tax Tue, 16 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21157