https://www.taxtmi.com/caselaws?id=31715 The court determined that the penalty order passed under Section 271B was beyond the prescribed limitation period of six months from the end of the month in which the penalty action was initiated. As the penalty order was issued after this period, it was deemed time-barred. Consequently, the court set aside the penalty imposed by the Assessing Officer, confirmed by the Commissioner of Income-tax (Appeals), and upheld by the tribunal, ruling in favor of the appellant and canceling the penalty of Rs 27,835. en-us Wed, 26 Nov 2008 00:00:00 +0530 Mon, 08 Jul 2013 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31715 The court determined that the penalty order passed under Section 271B was beyond the prescribed limitation period of six months from the end of the month in which the penalty action was initiated. As the penalty order was issued after this period, it was deemed time-barred. Consequently, the court set aside the penalty imposed by the Assessing Officer, confirmed by the Commissioner of Income-tax (Appeals), and upheld by the tribunal, ruling in favor of the appellant and canceling the penalty of Rs 27,835. Case-Laws Income Tax Wed, 26 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31715