(2)[ No order imposing a penalty under this Chapter shall be made-(a)by the Income-tax Officer, where the penalty exceeds ten thousand rupees;(b)by the ][Assistant Commissioner or Deputy Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Assistant Commissioner" (w.e.f. 1.10.1998).][, where the penalty exceeds twenty thousand rupees, except with the prior approval of the ] [Inserted by Act 4 of 1988, Section 115 (w.e.f. 1.4.1989).][Joint Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Deputy Commissioner" (w.e.f. 1.10.1998).].
