https://www.taxtmi.com/caselaws?id=27632 Jurisdiction to impose penalty under section 271(1)(c) was held to depend on the law in force on the date penalty proceedings are initiated, not the date of filing of the return. On that principle, the amendment to section 274(2) by the Taxation Laws (Amendment) Act, 1975 did not divest the Inspecting Assistant Commissioner of authority where proceedings had already been initiated under the then-applicable law. The penalty authority therefore retained jurisdiction, and the issue was answered in favour of the Revenue. en-us Fri, 14 Nov 1980 00:00:00 +0530 Mon, 15 Feb 2010 11:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27632 Jurisdiction to impose penalty under section 271(1)(c) was held to depend on the law in force on the date penalty proceedings are initiated, not the date of filing of the return. On that principle, the amendment to section 274(2) by the Taxation Laws (Amendment) Act, 1975 did not divest the Inspecting Assistant Commissioner of authority where proceedings had already been initiated under the then-applicable law. The penalty authority therefore retained jurisdiction, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Fri, 14 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27632