https://www.taxtmi.com/caselaws?id=25085 The High Court of Madhya Pradesh held that the Inspecting Assistant Commissioner lacked jurisdiction to levy penalties under section 271(1)(c) of the Income-tax Act, 1961 when the reference under section 274(2) was made after April 1, 1976. The Court ruled in favor of the assessee, canceling the penalties imposed for all assessment years, as the amendment deleting section 274(2) affected the Commissioner's authority. The penalties imposed were deemed illegal and without jurisdiction, leading to their cancellation. en-us Thu, 03 Dec 1987 00:00:00 +0530 Mon, 25 Jan 2010 12:43:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25085 The High Court of Madhya Pradesh held that the Inspecting Assistant Commissioner lacked jurisdiction to levy penalties under section 271(1)(c) of the Income-tax Act, 1961 when the reference under section 274(2) was made after April 1, 1976. The Court ruled in favor of the assessee, canceling the penalties imposed for all assessment years, as the amendment deleting section 274(2) affected the Commissioner's authority. The penalties imposed were deemed illegal and without jurisdiction, leading to their cancellation. Case-Laws Income Tax Thu, 03 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25085