Initiation of penalty proceedings: limitation runs from the Assessing Officer's reference, barring belated penalty orders. Initiation of penalty proceedings occurs when the Assessing Officer makes a reference to the competent authority; the subsequent show cause notice is a ... Summary
Initiation of penalty proceedings: limitation runs from the Assessing Officer's reference, barring belated penalty orders.
Initiation of penalty proceedings occurs when the Assessing Officer makes a reference to the competent authority; the subsequent show cause notice is a procedural opportunity and does not restart the limitation period, so the statutory limitation for completing penalty proceedings runs from the date of the Assessing Officer's reference and a penalty order passed after that period is time barred.
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TaxTMI 
TaxTMI 
