https://www.taxtmi.com/caselaws?id=380216 The Tribunal allowed the appeal, ruling the penalty under section 271B of the Income Tax Act was not sustainable due to being time-barred. The penalty initiation, after a significant delay of more than four years from the original assessment order, was deemed unjustified and against statutory provisions. The decision emphasized the necessity of timely initiation and completion of penalty proceedings in compliance with legal requirements. en-us Tue, 14 May 2019 00:00:00 +0530 Wed, 15 May 2019 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380216 The Tribunal allowed the appeal, ruling the penalty under section 271B of the Income Tax Act was not sustainable due to being time-barred. The penalty initiation, after a significant delay of more than four years from the original assessment order, was deemed unjustified and against statutory provisions. The decision emphasized the necessity of timely initiation and completion of penalty proceedings in compliance with legal requirements. Case-Laws Income Tax Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380216