https://www.taxtmi.com/caselaws?id=60437 The Tribunal dismissed the appeals filed by the Revenue, holding that the penalties imposed were barred by limitation based on the interpretation of Section 275 and the specific circumstances of the case. The Tribunal found that the time-limit for passing the penalty order had expired, and subsequent actions could not revive it, as argued by the assessee. The applicability of Section 275 for penalty imposition under Section 271B was also analyzed, with the Tribunal concluding that the penalties imposed were outside the prescribed time limit. en-us Tue, 29 Jan 2002 00:00:00 +0530 Wed, 05 Jan 2011 12:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60437 The Tribunal dismissed the appeals filed by the Revenue, holding that the penalties imposed were barred by limitation based on the interpretation of Section 275 and the specific circumstances of the case. The Tribunal found that the time-limit for passing the penalty order had expired, and subsequent actions could not revive it, as argued by the assessee. The applicability of Section 275 for penalty imposition under Section 271B was also analyzed, with the Tribunal concluding that the penalties imposed were outside the prescribed time limit. Case-Laws Income Tax Tue, 29 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60437