9911796707
TMI Blog2024 (1) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 27/09/2023 passed by the learned Commissioner of Income Tax (Appeals)- National Faceless Appeal Centre (NFAC), Delhi ("Ld. CIT(A)"), in the case of Janapati Krishna Bhagavan ("the assessee") for the assessment year 2016-17, assessee preferred this appeal. 2. Main plank of the argument on behalf of the assessee is that penalty order is barred by limitation inasmuch as under section 275(1)(c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he financial year in which the penalty under section 271D of the Act was initiated, which comes to 31/03/2022 whereas the penalty order was passed on 15/03/2022. Hence, it is well within limitation. 4. I have gone through the record in the light of the submissions made on either side. In this case, according to the Revenue, it was during the scrutiny of the return for the assessment year 2017-18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear in which proceedings, in the course of which action for imposition of penalty has been initiated. Second one is the date on which six months from the end of the month in which action for imposition of penalty was initiated. 6. In this case, there is no assessment for the assessment year 2016-17. It is only during the assessment proceedings for the assessment year 2017-18 the violation of sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of penalty proceedings under section 271D of the Act. 7. Learned CIT(A) took the date on which the one year period from the end of the financial year in which the notice was issued as 31/03/2022. I am unable to understand where from this date has come. Expiry of one year is not relatable to this date either from the date of the assessment order for the assessment year 2017-18 or from the date ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
