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2019 (2) TMI 1510 - AT - Income TaxPenalty u/s 271E - repaying the interest on loans otherwise than by crossed cheques/drafts - HELD THAT:- Circular No.9 dated 26.4.2016 issued by CBDT wherein it was observed that where any High Court decides this issue on the aspect of limitation contrary to the department view thereon, shall not be operative in the area falling under the jurisdiction of the relevant High Court. CIT(A) after noticing this Para 6 of the Circular, while respectfully following the decision of the Hon’ble jurisdictional High Court, hold that the period of limitation to be starting from the date of issuance of notice by the AO and not from the initiation of penalty proceedings issued by the JCIT/ACIT and on that score held that the penalty order dated 30.12.2011 is unsustainable on the ground that in view of the period of limitation provided u/s 275(1)(c), limitation expires at the latest by 30.6.2011 itself. - Decided against revenue.
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