Finance Acts
Section - 88 - Substitution of new section for section 275
Substitution of new section for section 275.88. For section 275 of the Income-tax Act, the following section shall be substituted, namely:-"275. Bar of limitation for imposing penalties.-(1) No order imposing a penalty under this Chapter shall be passed after the expiry of six months from the end of the quarter in which,-
| (a) | - | the proceedings, in the course of which action for the imposition of penalty has been initiated, are completed, if the relevant assessment or other order is not the subject matter of an appeal under section 246 or section 246A or section 253; |
| (b) | - | the order of revision under section 263 or section 264 is passed, if the relevant assessment or other order is the subject matter of revision under the said sections; |
| (c) | - | the order of appeal under section 246 or section 246A is received by the jurisdictional Principal Commissioner or Commissioner, if the relevant assessment or other order is the subject matter of an appeal under the said sections and no further appeal has been filed under section 253; | .... To read the full section download the app from Google Play store
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