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<h1>Appeal Dismissed: Penalty Order Beyond Limitation Period</h1> <h3>The Commissioner of Income Tax, Ajmer Versus Shri Banshilal Rathi</h3> The Commissioner of Income Tax, Ajmer Versus Shri Banshilal Rathi - TMI The High Court of Rajasthan dismissed the appeal in a tax penalty case, citing a previous judgment that clarified the period of limitation for penalty proceedings under section 271D of the Income Tax Act. The court held that the penalty order issued by the Joint Commissioner of Income Tax was beyond the limitation period, based on the date of the first show cause notice for initiating the penalty proceedings.