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of <h1>Income Tax Bill 2025 sets six-month limit for penalty imposition; Section 471(2) provisions apply to penalty orders.</h1> The Income Tax Bill, 2025, outlines a six-month limitation period for imposing penalties, starting from the end of the quarter in which specific events occur, such as the completion of proceedings, revision orders, or receipt of appeal orders. Revisions to penalties can be made based on revised assessments, provided the assessee is given a chance to be heard. The limitation period excludes time taken for rehearing opportunities and periods during which proceedings are stayed by court orders. The provisions of section 471(2) apply to orders related to penalties under this section.
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