https://www.taxtmi.com/acts?id=48504 Substitution of section 275 prescribes a time-bound bar on imposing penalties under Chapter XXI where no penalty order may be passed after the expiry of a specified post proceeding period measured from the end of the relevant quarter following completion of connected proceedings, receipt of appellate or revision orders, or issuance of penalty notice. It permits revision of penalty orders to give effect to altered assessments or orders and requires that the assessee be heard before any imposition, enhancement, reduction, cancellation, or dropping of penalty; specified periods (rehearings, court stays) are excluded when computing limitation. en-us Sat, 01 Feb 2025 14:49:26 +0530 Sat, 01 Feb 2025 14:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48504 Substitution of section 275 prescribes a time-bound bar on imposing penalties under Chapter XXI where no penalty order may be passed after the expiry of a specified post proceeding period measured from the end of the relevant quarter following completion of connected proceedings, receipt of appellate or revision orders, or issuance of penalty notice. It permits revision of penalty orders to give effect to altered assessments or orders and requires that the assessee be heard before any imposition, enhancement, reduction, cancellation, or dropping of penalty; specified periods (rehearings, court stays) are excluded when computing limitation. Act-Rules Bills Sat, 01 Feb 2025 14:49:26 +0530 https://www.taxtmi.com/acts?id=48504