TMI Blog2006 (2) TMI 135X X X X Extracts X X X X X X X X Extracts X X X X ..... at the penalty order passed under section 271D ibid for the alleged contravention of section 26955 ibid is bad in law being passed in contravention of section 275 (l)(c) ibid, i.e., barred by limitation prescribed under section 275(1)(c) - - - - - Dated:- 21-2-2006 - Judge(s) : A. M. SAPRE., ASHOK KUMAR TIWARI. JUDGMENT The judgment of the court was delivered by A. M. SAPRE J.-This is an a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich, in our opinion, arises for consideration: "Whether the Tribunal was justified in holding that the impugned penalty imposed under section 271D is barred by limitation as provided in section 275(1)(c) ibid?" The facts of the case lie in a narrow compass. They need mention in brief. The dispute relates to the assessment year 1990-91. In this assessment year the assessee received loans in c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 275(1)(c) ibid. Accordingly it was set aside. Heard Shri A. P. Patankar, learned counsel for the appellant, and Shri Nazir Singh learned counsel for the respondent. Having heard learned counsel for the parties and having perused the record of the case, we are inclined to dismiss the appeal and uphold the order of the Tribunal. Section 275(1)(c) provides for bar of limitation for impo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of penalty was passed in the year 1997, i.e., on October 31, 1997. The Assessing Officer having issued notices under section 271D on April 7, 1993 was under obligation to have completed the proceedings from the end of the month in which action for imposition of penalty was initiated, i.e., on or before March 31, 1994 or six months from April 3D, 1993 i.e. October, 1993. In this case outer period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rescribed under section 275(1)(c) of the Act. We concur with the view so taken and accordingly uphold the same. In view of the aforesaid finding recorded by us against the appellant on 2nd additional question framed by us, it is not necessary to answer the first question which in our opinion is academic in nature. Accordingly and in view of the aforesaid discussion the appeal fails and is dism ..... X X X X Extracts X X X X X X X X Extracts X X X X
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