https://www.taxtmi.com/caselaws?id=27018 The limitation period for passing a penalty order under sections 274(2) and 275 of the Income-tax Act was held to be governed by the amended section 275, which prescribed two years from the end of the financial year in which the relevant proceedings were completed. As the assessment was completed on 29 January 1972, the penalty order could be passed up to 31 March 1974. The order dated 30 March 1974 was therefore within time. The amendment fixing the limitation period was treated as procedural and applicable to the case, so the limitation objection failed and the issue was answered in favour of the Revenue. en-us Thu, 09 May 1985 00:00:00 +0530 Wed, 10 Feb 2010 12:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27018 The limitation period for passing a penalty order under sections 274(2) and 275 of the Income-tax Act was held to be governed by the amended section 275, which prescribed two years from the end of the financial year in which the relevant proceedings were completed. As the assessment was completed on 29 January 1972, the penalty order could be passed up to 31 March 1974. The order dated 30 March 1974 was therefore within time. The amendment fixing the limitation period was treated as procedural and applicable to the case, so the limitation objection failed and the issue was answered in favour of the Revenue. Case-Laws Income Tax Thu, 09 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27018