Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
The ITAT held that the penalty proceedings under section 271C were time-barred as the penalty order was passed beyond the six-month limitation period prescribed under section 275(1)(c) from the date the AO referred the matter to the Addl. CIT. Since the reference was made on 10.10.2016, the penalty order issued thereafter exceeded the statutory limitation period. Consequently, the penalty order was quashed as being invalid and barred by limitation. The appeals filed by the assessee were allowed accordingly.
The ITAT held that the penalty proceedings under section 271C were time-barred as the penalty order was passed beyond the six-month limitation period prescribed under section 275(1)(c) from the date the AO referred the matter to the Addl. CIT. Since the reference was made on 10.10.2016, the penalty order issued thereafter exceeded the statutory limitation period. Consequently, the penalty order was quashed as being invalid and barred by limitation. The appeals filed by the assessee were allowed accordingly.
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