https://www.taxtmi.com/caselaws?id=357502 The Tribunal found that the penalty order imposed under section 271D of the Income Tax Act was time-barred as it was passed beyond the statutory time limit. The assessing officer lacked the authority to impose penalties under section 271D, and there was no evidence of issuing any notice to the appellant. Relying on a decision by the Rajasthan High Court, the Tribunal concluded that penalty proceedings are independent of assessment proceedings. Consequently, the penalty order was set aside, and the penalty imposed on the appellant was annulled, allowing the appeal filed by the assessee. en-us Thu, 22 Mar 2018 00:00:00 +0530 Sat, 24 Mar 2018 08:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357502 The Tribunal found that the penalty order imposed under section 271D of the Income Tax Act was time-barred as it was passed beyond the statutory time limit. The assessing officer lacked the authority to impose penalties under section 271D, and there was no evidence of issuing any notice to the appellant. Relying on a decision by the Rajasthan High Court, the Tribunal concluded that penalty proceedings are independent of assessment proceedings. Consequently, the penalty order was set aside, and the penalty imposed on the appellant was annulled, allowing the appeal filed by the assessee. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357502