https://www.taxtmi.com/caselaws?id=25091 The Tribunal initially upheld the penalty imposed by the Inspecting Assistant Commissioner but later cancelled it due to lack of jurisdiction and time-barred imposition. After recalling its earlier order, the Tribunal reheard the case and determined that no penalty was leviable under section 271(1)(c) of the Income-tax Act, overturning its previous decision. The Commissioner contested these rulings, triggering legal debates on the jurisdiction of the Inspecting Assistant Commissioner, calculation of the penalty imposition period, the Tribunal's authority to recall orders, and the exigibility of penalties under the Act. en-us Thu, 23 Jul 1987 00:00:00 +0530 Mon, 25 Jan 2010 12:59:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25091 The Tribunal initially upheld the penalty imposed by the Inspecting Assistant Commissioner but later cancelled it due to lack of jurisdiction and time-barred imposition. After recalling its earlier order, the Tribunal reheard the case and determined that no penalty was leviable under section 271(1)(c) of the Income-tax Act, overturning its previous decision. The Commissioner contested these rulings, triggering legal debates on the jurisdiction of the Inspecting Assistant Commissioner, calculation of the penalty imposition period, the Tribunal's authority to recall orders, and the exigibility of penalties under the Act. Case-Laws Income Tax Thu, 23 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25091