https://www.taxtmi.com/caselaws?id=378070 The Court ruled in favor of the petitioner, finding that the penalty proceedings initiated under Section 271E for violating Section 269T of the Income Tax Act were time-barred under Section 275(1)(c). The final order issued beyond the prescribed period was set aside, emphasizing the importance of adhering to statutory timelines for penalty imposition. The Court referenced a Delhi High Court judgment on limitation in penalty proceedings and upheld the petitioner's argument, ultimately quashing the penalty proceedings. en-us Tue, 11 Dec 2018 00:00:00 +0530 Sat, 06 Apr 2019 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378070 The Court ruled in favor of the petitioner, finding that the penalty proceedings initiated under Section 271E for violating Section 269T of the Income Tax Act were time-barred under Section 275(1)(c). The final order issued beyond the prescribed period was set aside, emphasizing the importance of adhering to statutory timelines for penalty imposition. The Court referenced a Delhi High Court judgment on limitation in penalty proceedings and upheld the petitioner's argument, ultimately quashing the penalty proceedings. Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378070