https://www.taxtmi.com/caselaws?id=68378 The Tribunal held that penalties under sections 271D and 271E for the assessment years 1993-94, 1994-95, and 1995-96 were time-barred under section 275(1)(c) due to reasonable cause. The penalties were found not sustainable as they were initiated beyond the prescribed limitation period. Consequently, all appeals by the assessee were allowed, while all appeals by the Revenue were dismissed. en-us Fri, 17 Aug 2001 00:00:00 +0530 Sat, 03 Sep 2011 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68378 The Tribunal held that penalties under sections 271D and 271E for the assessment years 1993-94, 1994-95, and 1995-96 were time-barred under section 275(1)(c) due to reasonable cause. The penalties were found not sustainable as they were initiated beyond the prescribed limitation period. Consequently, all appeals by the assessee were allowed, while all appeals by the Revenue were dismissed. Case-Laws Income Tax Fri, 17 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68378