https://www.taxtmi.com/caselaws?id=384310 The Tribunal allowed the Assessee's appeal, canceling the penalty order imposed under Section 271-E of the Income Tax Act, 1961, due to it being time-barred under Section 275(1)(c). The Tribunal held that the penalty order issued on 27.1.2017 was beyond the permissible period, with the initiation of penalty proceedings deemed to be on 24.3.2016. The penalty order was considered invalid as it exceeded the statutory time limit, leading to its cancellation. en-us Fri, 02 Aug 2019 00:00:00 +0530 Fri, 09 Aug 2019 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384310 The Tribunal allowed the Assessee's appeal, canceling the penalty order imposed under Section 271-E of the Income Tax Act, 1961, due to it being time-barred under Section 275(1)(c). The Tribunal held that the penalty order issued on 27.1.2017 was beyond the permissible period, with the initiation of penalty proceedings deemed to be on 24.3.2016. The penalty order was considered invalid as it exceeded the statutory time limit, leading to its cancellation. Case-Laws Income Tax Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384310