1990 (7) TMI 105 - HC - Income Tax

Summary

The High Court of Orissa clarified that the penalty proceeding under section 271(1)(c) has not concluded and should be finalized by the Income-tax Officer with jurisdiction. The imposition of penalty by the Assistant Commissioner was deemed without jurisdiction, but the proceeding itself remains valid. The court also mentioned that the Income-tax Officer can consider the provisions of section 275 of the Act. The judgment was in favor of the assessee with no costs.