https://www.taxtmi.com/caselaws?id=266209 The ITAT dismissed the appeal and upheld the ld. CIT(A)'s decision to quash the penalty order under section 271E of the Income Tax Act, 1961 for the assessment year 2005-06 as time-barred. The judgment highlighted the legal position established by the High Court regarding penalty proceedings for violations of section 269SS, affirming that the penalty order exceeded the prescribed period. The ITAT concurred with this interpretation, leading to the affirmation of the ld. CIT(A)'s conclusion on the time-barred penalty order issue. en-us Fri, 27 Mar 2015 00:00:00 +0530 Sat, 19 Dec 2015 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266209 The ITAT dismissed the appeal and upheld the ld. CIT(A)'s decision to quash the penalty order under section 271E of the Income Tax Act, 1961 for the assessment year 2005-06 as time-barred. The judgment highlighted the legal position established by the High Court regarding penalty proceedings for violations of section 269SS, affirming that the penalty order exceeded the prescribed period. The ITAT concurred with this interpretation, leading to the affirmation of the ld. CIT(A)'s conclusion on the time-barred penalty order issue. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266209