https://www.taxtmi.com/caselaws?id=13580 The High Court of Punjab and Haryana ruled in favor of the Revenue, determining that the penalty order passed under section 271(1)(c) of the Income-tax Act was not beyond the period of limitation. The Court considered section 275 of the Act and held that the penalty order was within the prescribed timeframe despite being dated March 16, 1988, for the assessment years 1977-78 to 1980-81. The Tribunal's decision to set aside the penalty was overturned, emphasizing that the penalty imposition was within the statutory limitation period. en-us Thu, 01 Feb 2007 00:00:00 +0530 Fri, 29 May 2009 18:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13580 The High Court of Punjab and Haryana ruled in favor of the Revenue, determining that the penalty order passed under section 271(1)(c) of the Income-tax Act was not beyond the period of limitation. The Court considered section 275 of the Act and held that the penalty order was within the prescribed timeframe despite being dated March 16, 1988, for the assessment years 1977-78 to 1980-81. The Tribunal's decision to set aside the penalty was overturned, emphasizing that the penalty imposition was within the statutory limitation period. Case-Laws Income Tax Thu, 01 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13580