https://www.taxtmi.com/caselaws?id=25358 The High Court of BOMBAY ruled in favor of the Revenue in a case involving the applicability of amendments to sections 271(1)(c)(iii) and 274(2) of the Income-tax Act, 1961. The court affirmed the applicability of the amendment to section 271(1)(c)(iii) from April 1, 1968, in favor of the Revenue. Additionally, the court held that the Income-tax Officer had jurisdiction to impose a penalty based on the provisions in effect at the time of assessment, ruling against the assessee. The assessee was directed to pay the costs of the reference to the Revenue. en-us Wed, 14 Jan 1987 00:00:00 +0530 Thu, 28 Jan 2010 11:18:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25358 The High Court of BOMBAY ruled in favor of the Revenue in a case involving the applicability of amendments to sections 271(1)(c)(iii) and 274(2) of the Income-tax Act, 1961. The court affirmed the applicability of the amendment to section 271(1)(c)(iii) from April 1, 1968, in favor of the Revenue. Additionally, the court held that the Income-tax Officer had jurisdiction to impose a penalty based on the provisions in effect at the time of assessment, ruling against the assessee. The assessee was directed to pay the costs of the reference to the Revenue. Case-Laws Income Tax Wed, 14 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25358