1987 (8) TMI 20

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....the instance of the Revenue is to answer the following question of law : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the penalty order passed under section 271 (1)(c) of the Income-tax Act, 1961, holding that the Inspecting Assistant Commissioner of Income-tax had no jurisdiction to levy the said penalty on May 25, 1978 ? " The relev....

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....ence at the instance of the Revenue. As already held by us in several matters following the decision in CIT v. Shri Ram Prakash Saraf [1986] 160 ITR 860 (MP), the determining factor for deciding the Inspecting Assistant Commissioner's jurisdiction to impose penalty is the date of reference by the Income-tax Officer to the Inspecting Assistant Commissioner. In case such a reference was made by t....