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2015 (11) TMI 1006 - AT - Income TaxPenalty u/s 271E - whether penalty order is barred by limitation - Held that:- penalty order is time barred in the present case on the expiry of six months from the end of the month in which the action for penalty is initiated. In the facts of the present case, the date of reference by the Assessing Officer to Addl. C.I.T. for imposition of penalty is 21/10/2010 and if the period of six months is counted from 31.10.2010, the same expires on 30/06/2011 and the penalty order has been passed on 28th July, 2011 and hence, the penalty order is time barred as per the provisions of section 275 of the Act. - Decided in favour of assessee.
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