https://www.taxtmi.com/caselaws?id=60465 The Tribunal upheld the Inspecting Assistant Commissioner's (IAC) jurisdiction to pass the penalty order under section 271(1)(c)/274(2) of the Income-tax Act, 1961. It dismissed the appeal by the assessee, affirming the legality of the penalty imposed. The Tribunal found that the IAC's actions were valid, as the ITO properly initiated the penalty proceedings. Additionally, the Tribunal upheld the penalty on the merits, concluding that the assessee had concealed income and made false claims, resulting in the penalty being sustained. en-us Thu, 19 Apr 1984 00:00:00 +0530 Wed, 05 Jan 2011 14:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60465 The Tribunal upheld the Inspecting Assistant Commissioner's (IAC) jurisdiction to pass the penalty order under section 271(1)(c)/274(2) of the Income-tax Act, 1961. It dismissed the appeal by the assessee, affirming the legality of the penalty imposed. The Tribunal found that the IAC's actions were valid, as the ITO properly initiated the penalty proceedings. Additionally, the Tribunal upheld the penalty on the merits, concluding that the assessee had concealed income and made false claims, resulting in the penalty being sustained. Case-Laws Income Tax Thu, 19 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60465