https://www.taxtmi.com/caselaws?id=35619 The High Court upheld the imposition of a penalty under section 271(1)(c) of the Income-tax Act, 1961, on an assessee for concealing income particulars during reassessment. Despite the Tribunal canceling the penalty, citing statutory amendments, the Court ruled that the Income-tax Appellate Tribunal had jurisdiction to impose the penalty as per the amended provisions of sections 274(2) and 275. The Court clarified that the penalty proceedings were conducted within the prescribed time frame, affirming the penalty imposition by the IAC. en-us Thu, 07 Feb 1980 00:00:00 +0530 Mon, 15 Mar 2010 16:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35619 The High Court upheld the imposition of a penalty under section 271(1)(c) of the Income-tax Act, 1961, on an assessee for concealing income particulars during reassessment. Despite the Tribunal canceling the penalty, citing statutory amendments, the Court ruled that the Income-tax Appellate Tribunal had jurisdiction to impose the penalty as per the amended provisions of sections 274(2) and 275. The Court clarified that the penalty proceedings were conducted within the prescribed time frame, affirming the penalty imposition by the IAC. Case-Laws Income Tax Thu, 07 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35619