https://www.taxtmi.com/caselaws?id=24003 The court held that the Inspecting Assistant Commissioner lacked jurisdiction to levy a penalty under section 271(1)(c) of the Income-tax Act for the assessment year 1973-74 after the deletion of sub-section (2) of section 274. The court ruled in favor of the assessee, stating that the proper authority to impose the penalty was the Income-tax Officer, not the Inspecting Assistant Commissioner. The court emphasized that the authority initiating penalty proceedings must retain jurisdiction until the final order is passed, leading to the dismissal of the penalty imposed by the Inspecting Assistant Commissioner. en-us Tue, 01 Aug 1989 00:00:00 +0530 Fri, 15 Jan 2010 17:26:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24003 The court held that the Inspecting Assistant Commissioner lacked jurisdiction to levy a penalty under section 271(1)(c) of the Income-tax Act for the assessment year 1973-74 after the deletion of sub-section (2) of section 274. The court ruled in favor of the assessee, stating that the proper authority to impose the penalty was the Income-tax Officer, not the Inspecting Assistant Commissioner. The court emphasized that the authority initiating penalty proceedings must retain jurisdiction until the final order is passed, leading to the dismissal of the penalty imposed by the Inspecting Assistant Commissioner. Case-Laws Income Tax Tue, 01 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24003