https://www.taxtmi.com/caselaws?id=244797 The appeal was successful as the penalty order imposed on the assessee under the Income Tax Act, 1961 was deemed invalid due to delays in penalty proceedings and non-compliance with statutory time frames. The Tribunal found that the second notice issued for penalty imposition was beyond the prescribed time limit, rendering the penalty order invalid. As a result, the impugned order was set aside, and the assessee's appeal was allowed. The case underscores the importance of adhering to statutory time frames in penalty imposition cases. en-us Tue, 11 Feb 2014 00:00:00 +0530 Mon, 23 Mar 2015 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244797 The appeal was successful as the penalty order imposed on the assessee under the Income Tax Act, 1961 was deemed invalid due to delays in penalty proceedings and non-compliance with statutory time frames. The Tribunal found that the second notice issued for penalty imposition was beyond the prescribed time limit, rendering the penalty order invalid. As a result, the impugned order was set aside, and the assessee's appeal was allowed. The case underscores the importance of adhering to statutory time frames in penalty imposition cases. Case-Laws Income Tax Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244797