1969 (11) TMI 1 - SC - Income Tax

Penalty - Imposition of a penalty for non-compliance with the notice under s. 22(2) - Whatever the stage at which the satisfaction is reached, the scheme of sections 274(1) and 275, is that the order imposing penalty must be made after the completion of the assessment. The crucial date, therefore, for purposes of penalty, is the date of such completion - assessee's appeal is dismissed