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2016 (5) TMI 701 - AT - Income TaxPenalty u/s. 158BFA(3)(e) - penalty order within the time allowed - Held that:- Standing Counsel has to be treated as the recognized agent of the Commissioner or the Income Tax Department and the date of receipt of the order of the Hon’ble High Court by him has to be treated as the date of receipt of the order by the Commissioner or the Income Tax Department. Accordingly, the penalty order should have been passed on or before 31/03/2010 or 31/08/2010, which in fact had been passed on 27/09/2010 which is beyond the limitation period as prescribed in the Income Tax Act. Therefore, the penalty order passed by the Assessing Officer is barred by limitation and is liable to be quashed. Accordingly, we do not find any infirmity in the order of the Ld. CIT(A) who has rightly quashed the penalty order passed by the Assessing Officer. - Decided in favour of assessee.
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