https://www.taxtmi.com/caselaws?id=29220 The court ruled against the assessee, determining that penalties imposed without prior approval of the Inspecting Assistant Commissioner were valid under the law in force at the time of imposition. The Tribunal's decision to cancel the penalties based on outdated provisions was overturned, emphasizing that procedural requirements are governed by the law at the time of penalty imposition. The court clarified that the requirement of prior approval was procedural, not a vested right for the assessee, leading to the dismissal of the assessee's claim. Each party was ordered to bear their own costs in the reference proceedings. en-us Wed, 30 Jul 1980 00:00:00 +0530 Thu, 11 Mar 2010 14:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29220 The court ruled against the assessee, determining that penalties imposed without prior approval of the Inspecting Assistant Commissioner were valid under the law in force at the time of imposition. The Tribunal's decision to cancel the penalties based on outdated provisions was overturned, emphasizing that procedural requirements are governed by the law at the time of penalty imposition. The court clarified that the requirement of prior approval was procedural, not a vested right for the assessee, leading to the dismissal of the assessee's claim. Each party was ordered to bear their own costs in the reference proceedings. Case-Laws Wealth-tax Wed, 30 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29220