https://www.taxtmi.com/caselaws?id=36347 The court held that the Inspecting Assistant Commissioner (IAC) lacked authority to impose penalties under Section 271(1)(c) of the Act after April 1, 1976. The court ruled in favor of the assessee, determining that the IAC did not have jurisdiction to levy the penalty. It was confirmed that the penalty order dated September 22, 1976, was not time-barred. The issue regarding the validity of the penalty amount upheld by the Tribunal became irrelevant due to the court's decision on the IAC's jurisdiction. en-us Thu, 17 Apr 1980 00:00:00 +0530 Sat, 20 Mar 2010 18:07:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36347 The court held that the Inspecting Assistant Commissioner (IAC) lacked authority to impose penalties under Section 271(1)(c) of the Act after April 1, 1976. The court ruled in favor of the assessee, determining that the IAC did not have jurisdiction to levy the penalty. It was confirmed that the penalty order dated September 22, 1976, was not time-barred. The issue regarding the validity of the penalty amount upheld by the Tribunal became irrelevant due to the court's decision on the IAC's jurisdiction. Case-Laws Income Tax Thu, 17 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36347