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2018 (3) TMI 149 - HC - Income TaxPenalty u/s 271(1)(c) - period of limitation - Held that:- The impugned penalty notices having issued well beyond the period of limitation fixed in the first limb of Section 275(1) (a) of the Act, are held to be barred by limitation. However, the respondent is at liberty to initiate penalty proceedings after the order is passed by the CIT (A) before whom the matters are pending.
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