https://www.taxtmi.com/caselaws?id=39043 The High Court held that the penalty order made by the Inspecting Assistant Commissioner was within the limitation period post-amendment, rejecting the Tribunal's view on the time-bar. It also ruled that the Inspecting Assistant Commissioner had jurisdiction to proceed with the penalty proceedings against the assessee-firm, contrary to the Tribunal's decision. The High Court found the Tribunal's conclusions on limitation and jurisdiction to be erroneous and remanded the case for a decision on the merits, with costs imposed on the assessee. en-us Mon, 01 Sep 1975 00:00:00 +0530 Mon, 12 Apr 2010 11:56:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39043 The High Court held that the penalty order made by the Inspecting Assistant Commissioner was within the limitation period post-amendment, rejecting the Tribunal's view on the time-bar. It also ruled that the Inspecting Assistant Commissioner had jurisdiction to proceed with the penalty proceedings against the assessee-firm, contrary to the Tribunal's decision. The High Court found the Tribunal's conclusions on limitation and jurisdiction to be erroneous and remanded the case for a decision on the merits, with costs imposed on the assessee. Case-Laws Income Tax Mon, 01 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39043