High Court Reinstates Penalty u/s 158 BFA (2) of Income Tax Act, Overruling Tribunal's Limitation-Based Decision.

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....Imposition of penalty u/s 158 BFA (2) of the Income Tax Act, 1961 - Period of limitation - HC confirmed the addition by reversing the order of ITAT - AO passed the order dated 3.8.2007 - Penalty order passed as on 15.5.2011, is barred by limitation.....