https://www.taxtmi.com/caselaws?id=9556 The High Court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal, ruling in favor of the assessee and against the Revenue. The case revolved around the interpretation and application of the limitation period under section 275 of the Income-tax Act, 1961 for imposing a penalty under section 271(1)(c). The penalty order was deemed time-barred as it was passed well beyond the prescribed time limits, as stipulated in section 275(a). The court affirmed the cancellation of the penalty due to being initiated beyond the limitation period. en-us Mon, 11 Jul 2005 00:00:00 +0530 Sat, 27 Jun 2009 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9556 The High Court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal, ruling in favor of the assessee and against the Revenue. The case revolved around the interpretation and application of the limitation period under section 275 of the Income-tax Act, 1961 for imposing a penalty under section 271(1)(c). The penalty order was deemed time-barred as it was passed well beyond the prescribed time limits, as stipulated in section 275(a). The court affirmed the cancellation of the penalty due to being initiated beyond the limitation period. Case-Laws Income Tax Mon, 11 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9556