https://www.taxtmi.com/caselaws?id=36683 The High Court upheld the imposition of penalties under section 271(1)(c) of the Income Tax Act for the assessment years 1962-63 and 1963-64. It ruled that the tax authorities had the jurisdiction to reassess income in the correct year, even if initially assessed wrongly. The Court emphasized the importance of complying with legal procedures in challenging assessments and penalties, ultimately favoring the tax department's decision to impose penalties on the assessee. en-us Fri, 11 Apr 1980 00:00:00 +0530 Wed, 24 Mar 2010 10:17:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36683 The High Court upheld the imposition of penalties under section 271(1)(c) of the Income Tax Act for the assessment years 1962-63 and 1963-64. It ruled that the tax authorities had the jurisdiction to reassess income in the correct year, even if initially assessed wrongly. The Court emphasized the importance of complying with legal procedures in challenging assessments and penalties, ultimately favoring the tax department's decision to impose penalties on the assessee. Case-Laws Income Tax Fri, 11 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36683