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3 judgments · newest first · showing 1–3
The case concerned penalty proceedings for the assessment year 1972-73 that had been referred to the Inspecting Assistant Commissioner (IAC) under Section 271(1)(c) and Section 274(2) of the Income Tax Act. The Taxation Laws (Amendment) Act, 1975 deleted sub‑section (2) of Section 274 with effect …
Bihari Lal Jaiswal obtained a retail liquor licence under the Madhya Pradesh Excise Rules and entered into a partnership with ten others to run the business. He applied for registration of the partnership under sections 184 and 185 of the Income Tax Act, but the Income Tax Officer rejected the …
The assessee concealed income of minor children and the Income‑Tax Officer referred the case to the Inspecting Assistant Commissioner (IAC) under Section 274(2) of the Income‑Tax Act because the minimum penalty exceeded Rs 1,000. The reference was made before the amendment of Section 274(2) which, …
