https://www.taxtmi.com/caselaws?id=37850 Amendment of Section 274(2) of the Income-tax Act confined the Inspecting Assistant Commissioner's jurisdiction to penalty cases involving concealed income above the prescribed threshold. Where the concealed income was below that limit, a reference made after the amendment and a penalty order passed thereafter were without jurisdiction and could not be sustained. The penalty order was therefore invalid, with the jurisdictional objection answered in favour of the assessee and against the department. en-us Mon, 10 Jul 1978 00:00:00 +0530 Thu, 01 Apr 2010 14:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37850 Amendment of Section 274(2) of the Income-tax Act confined the Inspecting Assistant Commissioner's jurisdiction to penalty cases involving concealed income above the prescribed threshold. Where the concealed income was below that limit, a reference made after the amendment and a penalty order passed thereafter were without jurisdiction and could not be sustained. The penalty order was therefore invalid, with the jurisdictional objection answered in favour of the assessee and against the department. Case-Laws Income Tax Mon, 10 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37850