https://www.taxtmi.com/caselaws?id=37697 In penalty proceedings, the governing jurisdictional provision was the law in force when the penalty order was passed, so the amended section 274(2) applied rather than the earlier version. Because the concealed income fell below the amended monetary threshold, the Income-tax Officer had competence to complete the penalty proceedings, and the Inspecting Assistant Commissioner's jurisdiction was not attracted. The penalty order was therefore within jurisdiction, and the Tribunal's order quashing the penalty on jurisdictional grounds was set aside. en-us Fri, 24 Nov 1978 00:00:00 +0530 Wed, 31 Mar 2010 15:28:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37697 In penalty proceedings, the governing jurisdictional provision was the law in force when the penalty order was passed, so the amended section 274(2) applied rather than the earlier version. Because the concealed income fell below the amended monetary threshold, the Income-tax Officer had competence to complete the penalty proceedings, and the Inspecting Assistant Commissioner's jurisdiction was not attracted. The penalty order was therefore within jurisdiction, and the Tribunal's order quashing the penalty on jurisdictional grounds was set aside. Case-Laws Income Tax Fri, 24 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37697