https://www.taxtmi.com/caselaws?id=4249 The court ruled in favor of the Revenue regarding the limitation period for imposing penalties under Section 271B of the Income-tax Act, 1961. However, the court sided with the assessee on the issue of extension of the period for getting accounts audited. The penalty imposed under Section 271B was quashed, and the Tribunal's order was set aside, with no costs awarded. en-us Mon, 10 Dec 2007 00:00:00 +0530 Tue, 14 Jun 2011 04:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4249 The court ruled in favor of the Revenue regarding the limitation period for imposing penalties under Section 271B of the Income-tax Act, 1961. However, the court sided with the assessee on the issue of extension of the period for getting accounts audited. The penalty imposed under Section 271B was quashed, and the Tribunal's order was set aside, with no costs awarded. Case-Laws Income Tax Mon, 10 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4249