https://www.taxtmi.com/caselaws?id=24179 The High Court of PUNJAB AND HARYANA clarified the jurisdiction of the Inspecting Assistant Commissioner to impose penalties under section 271(1)(c) of the Income Tax Act. It held that the Commissioner had the authority to levy penalties initiated by the Income-tax Officer before April 1, 1976. Additionally, the court validated the service of notice on a single partner of a dissolved firm under Section 283(2) and upheld the penalty imposed. The court also upheld the penalty based on suppressed sales made on an estimated basis, emphasizing the consequences of failing to rebut presumptions of income concealment. The judgment favored the Revenue in all aspects. en-us Wed, 05 Apr 1989 00:00:00 +0530 Mon, 18 Jan 2010 12:38:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24179 The High Court of PUNJAB AND HARYANA clarified the jurisdiction of the Inspecting Assistant Commissioner to impose penalties under section 271(1)(c) of the Income Tax Act. It held that the Commissioner had the authority to levy penalties initiated by the Income-tax Officer before April 1, 1976. Additionally, the court validated the service of notice on a single partner of a dissolved firm under Section 283(2) and upheld the penalty imposed. The court also upheld the penalty based on suppressed sales made on an estimated basis, emphasizing the consequences of failing to rebut presumptions of income concealment. The judgment favored the Revenue in all aspects. Case-Laws Income Tax Wed, 05 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24179