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of <h1>Amended Section 275 Sets Six-Month Limitation Period for Tax Penalty Imposition with Specific Exclusions</h1> The Finance Act, 2025 substitutes section 275 of the Income-tax Act with new provisions regarding limitation periods for imposing penalties. The amended section establishes a six-month limitation period from the end of the quarter in which specified proceedings are completed. It covers various scenarios including completion of proceedings, revision orders, appeal orders, or issuance of penalty notices. The section allows revision of penalty orders based on revised assessments and requires that assessees be given a reasonable opportunity to be heard. Specific exclusions from the limitation period include time for rehearing and periods when proceedings were stayed by court orders.
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