https://www.taxtmi.com/caselaws?id=29278 For advance-tax penalty purposes, "regular assessment" means the initial assessment; a subsequent reassessment cannot provide a fresh basis to initiate penalty proceedings where the requisite satisfaction arose during the original assessment. Fresh penalty initiation during reassessment was therefore invalid. Although an amendment extending the limitation period is procedural, it cannot revive the authority to impose a penalty after limitation had already expired under the earlier provision. The penalty order was consequently time-barred, and the taxpayer's position was upheld. en-us Fri, 29 Jan 1982 00:00:00 +0530 Thu, 11 Mar 2010 18:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29278 For advance-tax penalty purposes, "regular assessment" means the initial assessment; a subsequent reassessment cannot provide a fresh basis to initiate penalty proceedings where the requisite satisfaction arose during the original assessment. Fresh penalty initiation during reassessment was therefore invalid. Although an amendment extending the limitation period is procedural, it cannot revive the authority to impose a penalty after limitation had already expired under the earlier provision. The penalty order was consequently time-barred, and the taxpayer's position was upheld. Case-Laws Income Tax Fri, 29 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29278