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2016 (1) TMI 222 - AT - Income TaxPenalty u/ss 271D and 271E - whether penalty orders alleging that the same are barred by limitation as prescribed u/s 275(1)(c)? - Held that:- The limitation as prescribed u/s 271(1)(c) has to be reckoned from the date of first notice issued by the AO, though not competent to impose penalty on 31.12.2009 and thus penalty order has to be passed on or before 30.6.2010 and penalty order passed after more than six months on 4.1.2011 u/s 271D and 271E of the Act are clearly hit by the limitation period as prescribed u/s 275(1)(c) of the Act and both the penalty orders cannot be held as sustainable being passed beyond the prescribed limitation by the provisions of the Act and hence we demolish and quash the same. - Decided in favour of assessee.
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