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2014 (1) TMI 1838 - AT - Income TaxPenalty u/s 271C - order for levying the penalty passed by the Additional CIT which is barred by limitation - Held that:- In the instant case, the proceedings for levying the penalty under section 271C was initiated vide order dated 19/03/2009 which falls in the financial year 2008-09 and ends on 31/03/2009 and the action for imposition of the penalty was initiated on 24/12/2009 when a reference was made by the AO to the Addl. CIT (TDS), Udaipur, accordingly 6 months expired on 30/06/2010. Therefore, the order for imposing of penalty under section 271C could have been passed on or before 30/06/2010, but the order for levying the penalty u/s. 271C has been passed by the Additional CIT on 18/08/2010, which is barred by limitation. Therefore, the penalty levied under section 271C of the Act vide order dated 18/08/2010 was clearly hit by the barred by limitation which deserves to be set aside. The penalty under section 271C levied in the present case was not justified. - Decided in favour of assessee.
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