https://www.taxtmi.com/caselaws?id=38809 For section 297(2)(g) of the Income-tax Act, 1961, "assessment" includes reassessment within the meaning of section 2(8). Penalty proceedings arising from reassessment orders made after 1 April 1962 are therefore governed by the 1961 Act, even if they relate to earlier assessment years. On that interpretation, penalty under section 271(1)(c) could be imposed and the Inspecting Assistant Commissioner had jurisdiction to do so. The provision was read consistently with the statutory scheme and the interpretation accepted by the Supreme Court. en-us Tue, 07 Dec 1976 00:00:00 +0530 Fri, 09 Apr 2010 11:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38809 For section 297(2)(g) of the Income-tax Act, 1961, "assessment" includes reassessment within the meaning of section 2(8). Penalty proceedings arising from reassessment orders made after 1 April 1962 are therefore governed by the 1961 Act, even if they relate to earlier assessment years. On that interpretation, penalty under section 271(1)(c) could be imposed and the Inspecting Assistant Commissioner had jurisdiction to do so. The provision was read consistently with the statutory scheme and the interpretation accepted by the Supreme Court. Case-Laws Income Tax Tue, 07 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38809