1988 (8) TMI 78

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....3,700 was barred by limitation prescribed under section 275 of the Income-tax Act, 1961 ?" The relevant assessment year is 1972-73. The Income-tax Officer imposed penalty under section 271(1)(c) of the Act on the assessee for concealment of particulars of income. On appeal, the Appellate Assistant Commissioner set aside the penalty and remanded the matter to the Income-tax Officer for a fresh decision after giving the assessee an opportunity of being heard. The Income-tax Officer passed a fresh order after hearing the assessee and again imposed penalty. The assessee appealed to the Appellate Assistant Commissioner and contended that the Income-tax Officer's fresh order imposing the penalty was time-barred. The Appellate Assistant Commiss....

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....er : " 275. Bar of limitation for imposing penalties. No order imposing a penalty under this Chapter shall be passed (a) in a case where the relevant assessment or other order is the subject-matter of an appeal to the Appellate Assistant Commissioner under section 246 or an appeal to the Appellate Tribunal under sub-section (2) of section 253, after the expiration of a period of (i) two years from the end of the financial year in which the proceedings, in the course of which action for imposition of penalty has been initiated, are completed, or (ii) six months from the end of the month in which the order of the Appellate Assistant Commissioner or, as the case may be, the Appellate Tribunal is received by the Commissioner, whichever....