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of <h1>High Court affirms Income-tax penalty order within time limit. Precedent cited. Assessee's appeal dismissed.</h1> The High Court of Madhya Pradesh upheld the penalty order issued by the Inspecting Assistant Commissioner of Income-tax, finding it compliant with the ... Change Of Law, Penalty The High Court of Madhya Pradesh ruled that the penalty order passed by the Inspecting Assistant Commissioner of Income-tax was not illegal as it was within the time limit set by the Income-tax Act, 1961. The Court referred to previous judgments supporting this interpretation. The appeal by the assessee was dismissed, and each party was ordered to bear their own costs.
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