https://www.taxtmi.com/caselaws?id=67348 The Tribunal allowed the appeal filed by the assessee based on the issue of limitation regarding the imposition of the penalty under section 271(1)(c) of the Income Tax Act. The penalty imposed by the Income-tax Appellate Commissioner was canceled due to a significant delay of more than 9 years from the assessment order and over 7 years after the Tribunal's initial order setting aside the penalty. The Tribunal emphasized that penalties should be imposed within a strict timeframe, leading to the cancellation of the penalty and the allowance of the assessee's appeal. en-us Fri, 27 Mar 1981 00:00:00 +0530 Thu, 10 Mar 2011 11:44:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67348 The Tribunal allowed the appeal filed by the assessee based on the issue of limitation regarding the imposition of the penalty under section 271(1)(c) of the Income Tax Act. The penalty imposed by the Income-tax Appellate Commissioner was canceled due to a significant delay of more than 9 years from the assessment order and over 7 years after the Tribunal's initial order setting aside the penalty. The Tribunal emphasized that penalties should be imposed within a strict timeframe, leading to the cancellation of the penalty and the allowance of the assessee's appeal. Case-Laws Income Tax Fri, 27 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67348