https://www.taxtmi.com/acts?id=52018 Section 472 prescribes a six month limitation from quarter end for passing any order imposing, enhancing, reducing, cancelling or dropping penalties, with the start point tied to specified events (completion of proceedings where no appeal exists; receipt or passing of appellate or revisional orders; or issuance of notice). Penalty orders may be revised to reflect appellate or revisional outcomes but only after providing the assessee a hearing and within the same six month limitation; time for rehearing and periods of court stay (until vacatur is certified) are excluded from the limitation. en-us Thu, 14 Aug 2025 18:34:37 +0530 Sat, 31 Jan 2026 13:57:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52018 Section 472 prescribes a six month limitation from quarter end for passing any order imposing, enhancing, reducing, cancelling or dropping penalties, with the start point tied to specified events (completion of proceedings where no appeal exists; receipt or passing of appellate or revisional orders; or issuance of notice). Penalty orders may be revised to reflect appellate or revisional outcomes but only after providing the assessee a hearing and within the same six month limitation; time for rehearing and periods of court stay (until vacatur is certified) are excluded from the limitation. Act-Rules Income Tax Thu, 14 Aug 2025 18:34:37 +0530 https://www.taxtmi.com/acts?id=52018