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 - .....

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..... Reply By Rama Krishana - The Reply = 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 penalt .....

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..... y proceedings. - Time Limit - initiation of penalty proceedings u/s 221 - Query Started By: - GOPALJI AGRAWAL Dated:- 9-2-2010 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge .....

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..... Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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