https://www.taxtmi.com/caselaws?id=39374 The High Court held that the Inspecting Assistant Commissioner had the discretion to pass a fresh penalty order if legally valid, despite the expiration of the two-year limitation period under section 275 of the Income-tax Act, 1961. The Court ruled in favor of the assessee, stating that the issue of jurisdiction due to the lapse of time was of academic value, and the Inspecting Assistant Commissioner was not debarred by the time limit in passing a fresh penalty order as directed by the Tribunal. en-us Fri, 01 Feb 1974 00:00:00 +0530 Fri, 16 Apr 2010 10:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39374 The High Court held that the Inspecting Assistant Commissioner had the discretion to pass a fresh penalty order if legally valid, despite the expiration of the two-year limitation period under section 275 of the Income-tax Act, 1961. The Court ruled in favor of the assessee, stating that the issue of jurisdiction due to the lapse of time was of academic value, and the Inspecting Assistant Commissioner was not debarred by the time limit in passing a fresh penalty order as directed by the Tribunal. Case-Laws Income Tax Fri, 01 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39374