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2017 (8) TMI 934 - GUJARAT HIGH COURTPenalty u/s 271AAA - time limit within which such tax had to be paid - Penalty where search has been initiated - Held that:- Tribunal placed back the matter before the Assessing Officer to verify the claim of the assessee regarding involvement of the third condition of Section 271AAA namely that of payment of full tax. The Tribunal referred to the decision of the Supreme Court in case of Assistant Commissioner of Income–Tax vs. Gebilal Kanhaialal, HUF reported in [2012 (9) TMI 297 - SUPREME COURT] taking a view that the section did not lay down any time limit within which such tax had to be paid. As held by the Supreme Court in case of Gebilal Kanhaialal, HUF (supra), there is not time limit envisaged under section 271AAA for fulfillment of condition of payment of tax. When the Tribunal on the assertion of the assessee that the entire tax was paid up has placed the matter before the Assessing Officer for verification of such assertion, no question of law arises.
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