https://www.taxtmi.com/caselaws?id=3948 The court held that the penalty imposed under Section 271-B of the Income-tax Act was not barred by limitation. The penalty proceedings initiated on January 16, 1989, were within the limitation period, as the penalty order was passed on October 23, 1990. The court ruled in favor of the Revenue and against the assessee, citing that the limitation period starts from the date of penalty notice issuance. en-us Fri, 13 Jul 2007 00:00:00 +0530 Sat, 26 Jul 2008 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3948 The court held that the penalty imposed under Section 271-B of the Income-tax Act was not barred by limitation. The penalty proceedings initiated on January 16, 1989, were within the limitation period, as the penalty order was passed on October 23, 1990. The court ruled in favor of the Revenue and against the assessee, citing that the limitation period starts from the date of penalty notice issuance. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3948