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2014 (4) TMI 627 - AT - Income TaxBar of limitation - Validity of the penalty order passed u/s 271B of the Act – Held that:- The penalty proceedings have been initiated on 06.10.2003 and also again on 09.02.2004 - But the penalty order has been passed only after 03.03.2006 – the penalty order is barred by limitation – Even if, it is considered for a moment that the provisions of clause (a) is applicable, then also the order is barred by limitation - it was passed after expiry of about one year from the date of the order of CIT(A) – the contention of the assessee that it is barred by limitation is accepted – thus, the order of the CIT(A) set aside and the penalty u/s 271B of the Act deleted – Decided in favour of Assessee.
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