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2016 (7) TMI 1520 - AT - Income TaxPenalty u/s 158BFA(2) - order barred by limitation - HELD THAT:- the date of the order of the Tribunal is 12.10.2006 and the date of the High Court order is 29.11.2010 and penalty order is passed on 19.05.2011 therefore provisions of section 158BFA(3)(c) extends the period of limitation in the matter of appeal before the Tribunal only and not on appeal before the Hon’ble High Court. Therefore the penalty order is passed beyond the period of limitation as provided u/s 158BFA(3)(c) of the Income Tax Act. as the date of the Tribunal order is 12.10.2006, the penalty should have been levied within 6 months from the end of the month in which the order of the Tribunal is received which in any case is violated as the penalty order is passed on 19.05.2011. As the date of the Tribunal order is 12.10.2006, the penalty should have been levied within 6 months from the end of the month in which the order of the Tribunal is received which in any case is violated as the penalty order is passed on 19.05.2011. In this case the order of the tribunal is dated 12.10.2006 and penalty order is passed on 19.05.2011, therefore, apparently the order is barred by limitation. The decision relied upon by the ld AR of coordinate bench of Arvind Kr. Jain Vs. ACIT [2012 (9) TMI 1159 - ITAT AGRA] has decided the issue on identical facts and circumstances, wherein such order of penalty was barred by limitation - Decided in favour of assessee.
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