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Time Limit - initiation of penalty proceedings u/s 221 , Income Tax |
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Time Limit - initiation of penalty proceedings u/s 221 |
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Dear All Is there any time limit for initiation of penalty proceedings u/s 221 of the IT Act? There is limitation for concluding the same u/s 275 once initiated. Please help me out. Gopal Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Yes, you are correct, section 221 read with section 275, there is no time limit for initiation of penalty proceedings. There is time limit for completion of penalty proceedings.
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