https://www.taxtmi.com/caselaws?id=25360 The court held that the Income-tax Officer had jurisdiction to impose the penalty under the amended section 274(2) as it stood at the time of assessment. The court clarified that the procedural amendment applied to the case, rejecting the Tribunal's decision that the penalty imposition was without jurisdiction. Additionally, it was found that the assessee was provided a reasonable opportunity of being heard. Both issues were decided in favor of the Revenue, and the assessee was directed to pay the costs of the reference. en-us Mon, 05 Jan 1981 00:00:00 +0530 Thu, 28 Jan 2010 11:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25360 The court held that the Income-tax Officer had jurisdiction to impose the penalty under the amended section 274(2) as it stood at the time of assessment. The court clarified that the procedural amendment applied to the case, rejecting the Tribunal's decision that the penalty imposition was without jurisdiction. Additionally, it was found that the assessee was provided a reasonable opportunity of being heard. Both issues were decided in favor of the Revenue, and the assessee was directed to pay the costs of the reference. Case-Laws Income Tax Mon, 05 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25360