https://www.taxtmi.com/caselaws?id=61254 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271(1)(c) of the Income Tax Act. It held that the Income Tax Officer (ITO) lacked jurisdiction to levy the penalty as the law at the time required the Inspecting Assistant Commissioner (IAC) to impose penalties exceeding Rs. 1,000. The penalty was deemed bad in law and was consequently canceled, without delving into the other aspects of the case. en-us Thu, 20 Jan 1983 00:00:00 +0530 Tue, 11 Jan 2011 14:43:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61254 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271(1)(c) of the Income Tax Act. It held that the Income Tax Officer (ITO) lacked jurisdiction to levy the penalty as the law at the time required the Inspecting Assistant Commissioner (IAC) to impose penalties exceeding Rs. 1,000. The penalty was deemed bad in law and was consequently canceled, without delving into the other aspects of the case. Case-Laws Income Tax Thu, 20 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61254