1988 (8) TMI 91 - HC - Income Tax

Summary

The High Court of Rajasthan ruled that the Inspecting Assistant Commissioner had jurisdiction to impose a penalty in a case where the reference was made before April 1, 1976. The Tribunal's view that the Commissioner had no jurisdiction after that date was deemed unjustified. The judgment favored the Revenue over the assessee. (Case citation: 1988 (8) TMI 91 - Rajasthan High Court)