https://www.taxtmi.com/caselaws?id=13186 Penalty proceedings under section 271B are not required to be initiated simultaneously with assessment proceedings, because the provision does not make contemporaneous initiation a condition for valid action. The distinction applied in cases under section 271(1), where satisfaction must arise in the course of proceedings, was held not to govern section 271B. A notice for penalty may therefore follow completion of assessment if issued within the limitation period under section 275. On the facts, initiation was timely and the assessee's challenge failed. en-us Wed, 22 Nov 2006 00:00:00 +0530 Wed, 27 May 2009 10:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13186 Penalty proceedings under section 271B are not required to be initiated simultaneously with assessment proceedings, because the provision does not make contemporaneous initiation a condition for valid action. The distinction applied in cases under section 271(1), where satisfaction must arise in the course of proceedings, was held not to govern section 271B. A notice for penalty may therefore follow completion of assessment if issued within the limitation period under section 275. On the facts, initiation was timely and the assessee's challenge failed. Case-Laws Income Tax Wed, 22 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13186