https://www.taxtmi.com/caselaws?id=67330 The Appellate Tribunal ITAT Jabalpur ruled in favor of the assessee in the case involving the levy of a penalty under section 271(1)(c) of the Act. The Tribunal found that the delay of over seven years in re-imposing the penalty by the IAC was unjustified, emphasizing the strict construction of limitations for imposing penalties. As a result, the penalty of Rs. 14,915 was canceled, and the appeal by the assessee was allowed, highlighting the importance of adhering to statutory limitations and avoiding undue delays in penalty impositions. en-us Fri, 27 Mar 1981 00:00:00 +0530 Thu, 10 Mar 2011 10:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67330 The Appellate Tribunal ITAT Jabalpur ruled in favor of the assessee in the case involving the levy of a penalty under section 271(1)(c) of the Act. The Tribunal found that the delay of over seven years in re-imposing the penalty by the IAC was unjustified, emphasizing the strict construction of limitations for imposing penalties. As a result, the penalty of Rs. 14,915 was canceled, and the appeal by the assessee was allowed, highlighting the importance of adhering to statutory limitations and avoiding undue delays in penalty impositions. Case-Laws Income Tax Fri, 27 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67330