https://www.taxtmi.com/caselaws?id=178931 The Tribunal held that the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 2004-05 was time-barred as per the proviso to section 275(1)(a). The penalty order passed after the prescribed time limit was deemed invalid, leading to the decision to delete the penalty in all three appeals. The jurisdiction of the Assessing Officer to levy the penalty was challenged, and the Tribunal ruled in favor of the assessees based on the statutory time limitations outlined in the Act. en-us Mon, 18 Oct 2010 00:00:00 +0530 Tue, 16 Feb 2016 15:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178931 The Tribunal held that the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 2004-05 was time-barred as per the proviso to section 275(1)(a). The penalty order passed after the prescribed time limit was deemed invalid, leading to the decision to delete the penalty in all three appeals. The jurisdiction of the Assessing Officer to levy the penalty was challenged, and the Tribunal ruled in favor of the assessees based on the statutory time limitations outlined in the Act. Case-Laws Income Tax Mon, 18 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178931