https://www.taxtmi.com/caselaws?id=38395 The court upheld the legality and validity of the notices issued under sections 274 and 271 of the Income-tax Act for the levy of penalties. It ruled that penalty proceedings can be initiated before completion of assessment proceedings and within the limitation period of eight years from the end of the assessment years concerned. The court also found that the reference of the case to the Inspecting Assistant Commissioner was permissible under the Act. The petitioner's challenge against the notices was dismissed, interim orders were vacated, and a stay of judgment operation was granted for six weeks. en-us Wed, 08 Jun 1977 00:00:00 +0530 Tue, 06 Apr 2010 10:17:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38395 The court upheld the legality and validity of the notices issued under sections 274 and 271 of the Income-tax Act for the levy of penalties. It ruled that penalty proceedings can be initiated before completion of assessment proceedings and within the limitation period of eight years from the end of the assessment years concerned. The court also found that the reference of the case to the Inspecting Assistant Commissioner was permissible under the Act. The petitioner's challenge against the notices was dismissed, interim orders were vacated, and a stay of judgment operation was granted for six weeks. Case-Laws Income Tax Wed, 08 Jun 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38395