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of <h1>Clause 228 of Direct Taxes Code Bill: One-Year Limit for Penalty Orders; Revisions Allowed Post Revised Tax Assessments.</h1> Clause 228 of the Direct Taxes Code Bill, 2009, establishes a one-year limitation period for passing penalty orders from the end of the financial year in which the penalty notice is issued. Penalty orders can be revised or revived based on revised tax assessments following orders from higher authorities, including the Commissioner (Appeals) and various tribunals. Such revisions must occur within six months from when the relevant order is received. The limitation period excludes time taken for rehearing opportunities and any period during which penalty proceedings are stayed by court orders.
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