https://www.taxtmi.com/caselaws?id=37826 The High Court held that the Inspecting Assistant Commissioner (IAC) did not have jurisdiction to impose a penalty for the assessment year 1969-70 due to an amendment in section 274(2) of the Income Tax Act, which required cases with concealment exceeding Rs. 25,000 to be referred to the IAC. The Court emphasized that the IAC must not only have jurisdiction initially but also be empowered to decide the matter when the final order is passed. As the IAC's jurisdiction to pass the final order was taken away by the amendment, the penalty imposed by the IAC was deemed to be without jurisdiction. The Court ruled in favor of the assessee, awarding costs of Rs. 200. en-us Fri, 19 May 1978 00:00:00 +0530 Thu, 01 Apr 2010 12:40:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37826 The High Court held that the Inspecting Assistant Commissioner (IAC) did not have jurisdiction to impose a penalty for the assessment year 1969-70 due to an amendment in section 274(2) of the Income Tax Act, which required cases with concealment exceeding Rs. 25,000 to be referred to the IAC. The Court emphasized that the IAC must not only have jurisdiction initially but also be empowered to decide the matter when the final order is passed. As the IAC's jurisdiction to pass the final order was taken away by the amendment, the penalty imposed by the IAC was deemed to be without jurisdiction. The Court ruled in favor of the assessee, awarding costs of Rs. 200. Case-Laws Income Tax Fri, 19 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37826