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2019 (3) TMI 220 - AT - Income TaxPenalty u/s. 271D - From which date counting of limitation start - Reference of matter by AO or notice by Joint CIT - order passed by the authority beyond the period of limitation - HELD THAT:- Initiation of penalty u/s.271D would only commence when the officer is empowered to levy penalty applies his mind and thereafter issue the notice. But in the absence of availability of any decision contrary to the judgment in PCIT v. Mahesh Wood Products P. Ltd [2017 (5) TMI 433 - DELHI HIGH COURT] we are afraid that though the contention of the Revenue seems to be plausible. However, being the sub-ordinate tribunal, we are bound to follow the decision of the Hon’ble Delhi High Court. Since we are holding that the order passed by the authority is beyond the period of limitation, hence the orders passed by lower authorities were lacking jurisdiction, being passed beyond statutory period, null and void. therefore, we are not adjudicating any other ground on merit. - Decided in favour of assessee.
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