274. Procedure.

(1) No order imposing a penalty under this Chapter shall be made unless the assessee has been heard, or has been given a reasonable opportunity of being heard.

[1][(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 [2][or Deputy Commissioner], where the penalty exceeds twenty thousand rupees,

except with the prior approval of the [3][Joint Commissioner].]

[4][(2A) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of imposing penalty under this Chapter so as to impart greater efficiency, transparency and accountability by