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2013 (7) TMI 85 - HC - Income TaxPenalty u/s 271D - period of limitation - Held that:- when the authority competent to impose penalty under s.271D was the Jt.CIT, the period of limitation for the purpose of such penalty proceedings was not to be reckoned from the issue of first show cause by the Jt. CIT, but the period of limitation was to be reckoned from the date of issue of first show cause for initiation of such penalty proceedings - Present proceedings hit by the bar of limitation - Tribunal not committed any error in setting aside the order of penalty - Following decision of Commissioner of Income Tax vs. Jitendra Singh Rathore [2013 (3) TMI 222 - RAJASTHAN HIGH COURT] - Decided in favour of assessee.
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