https://www.taxtmi.com/caselaws?id=22312 The High Court held that the penalty imposed in 1977 under section 271(1)(c) was within the prescribed limitation period from the relevant assessment post-remand. The Court agreed with the Revenue's argument that the penalty proceedings were initiated during the fresh assessment after remand, making it the relevant assessment for calculating the limitation period. Consequently, the Court ruled in favor of the Revenue, affirming the imposition of the penalty within the prescribed timeframe. en-us Mon, 25 Mar 1991 00:00:00 +0530 Wed, 09 Dec 2009 11:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22312 The High Court held that the penalty imposed in 1977 under section 271(1)(c) was within the prescribed limitation period from the relevant assessment post-remand. The Court agreed with the Revenue's argument that the penalty proceedings were initiated during the fresh assessment after remand, making it the relevant assessment for calculating the limitation period. Consequently, the Court ruled in favor of the Revenue, affirming the imposition of the penalty within the prescribed timeframe. Case-Laws Income Tax Mon, 25 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22312