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2010 (11) TMI 101 - DELHI HIGH COURTPenalty - Substantial question of law - Whether the ITAT was correct in law and on facts in holding that the order of the AO imposing penalty is barred in view of the provisions of Section 275 (1) (a) of the Act - Rejecting the original return by AO some addition were made - While passing this assessment order, the Assessing Officer also directed initiation of penalty proceedings under Section 271 (1) (c) of the Act on the ground that the assessee had concealed particulars of income - The Tribunal has set aside this penalty order on the ground that it was time barred - Held that: - In the facts and circumstances of the case, the assessment order dated 28th February, 2005 was a fresh and new assessment order - Though, on the direction of Tribunal, largely giving effect to the orders dated 2nd August, 2004 passed by the Tribunal. - Tribunal was not right in treating the order of the Assessing Officer imposing penalty as time barred - The order of the Tribunal is accordingly set aside
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