Limitation for penalty imposition altered by removing senior commissioner references from limitation calculations under the Income-tax Act. The amendment removes references to the Principal Chief Commissioner and Chief Commissioner from sub sections (1) and (1A) of section 275, which ... Summary
Limitation for penalty imposition altered by removing senior commissioner references from limitation calculations under the Income-tax Act.
The amendment removes references to the Principal Chief Commissioner and Chief Commissioner from sub sections (1) and (1A) of section 275, which prescribes the bar of limitation for imposing penalties where an appeal is preferred before the Commissioner (Appeals), thereby narrowing the specified officers whose receipt of the appellate order affects the limitation calculation; the amendment takes effect from 1st October, 2024.
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