https://www.taxtmi.com/caselaws?id=24328 For penalty proceedings under section 271(1)(c), jurisdiction depends on the law in force when the Income-tax Officer records the requisite satisfaction that concealed income exceeded the statutory threshold. Once that satisfaction is recorded, the matter is treated as referred to the Inspecting Assistant Commissioner, and the later formal reference is only a ministerial act. The deletion of section 274(2) did not divest jurisdiction where the satisfaction had been recorded before 1 April 1976, so the authority retained power to impose the penalty. en-us Tue, 17 Jan 1989 00:00:00 +0530 Tue, 19 Jan 2010 12:50:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24328 For penalty proceedings under section 271(1)(c), jurisdiction depends on the law in force when the Income-tax Officer records the requisite satisfaction that concealed income exceeded the statutory threshold. Once that satisfaction is recorded, the matter is treated as referred to the Inspecting Assistant Commissioner, and the later formal reference is only a ministerial act. The deletion of section 274(2) did not divest jurisdiction where the satisfaction had been recorded before 1 April 1976, so the authority retained power to impose the penalty. Case-Laws Income Tax Tue, 17 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24328