https://www.taxtmi.com/caselaws?id=380772 The Tribunal allowed the appeal, holding the penalty order under section 158BFA(2) of the Income Tax Act to be barred by limitation and subsequently quashed it. The Tribunal found that the penalty order was passed beyond the prescribed time limit as per section 158BFA(3)(c), following a judicial precedent that such orders are time-barred. Consequently, the Tribunal did not assess the merits of the case, invalidating the penalty order solely on the grounds of being time-barred. en-us Thu, 23 May 2019 00:00:00 +0530 Tue, 28 May 2019 08:08:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380772 The Tribunal allowed the appeal, holding the penalty order under section 158BFA(2) of the Income Tax Act to be barred by limitation and subsequently quashed it. The Tribunal found that the penalty order was passed beyond the prescribed time limit as per section 158BFA(3)(c), following a judicial precedent that such orders are time-barred. Consequently, the Tribunal did not assess the merits of the case, invalidating the penalty order solely on the grounds of being time-barred. Case-Laws Income Tax Thu, 23 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380772