1989 (1) TMI 71 - HC - Income Tax

Summary

The High Court held that the Inspecting Assistant Commissioner had jurisdiction to impose a penalty of Rs. 11,000 on the assessee for concealment of income. The court referred to the deletion of section 274(2) of the Income-tax Act and concluded that the Inspecting Assistant Commissioner had the authority to pass the penalty order. The judgment favored the Revenue and ruled against the assessee.