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Bar of limitation for imposing penalty.

Section 47 - Act - PENALTIES - Other Direct Tax / Income Tax - Section 47 - 47. (1) No order imposing a penalty under this Chapter shall be passed after the expiry of a period of one year from the end of the financial year in which the notice for imposition of penalty is issued under section 46. (2) An order imposing, or dropping the proceedings for imposition of, penalty under this Chapter may be revised, or revived, as the case may be, on the basis of assessment of the undisclosed foreign inco .....

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