https://www.taxtmi.com/caselaws?id=283093 The appeal against the deletion of a penalty of Rs. 33,60,000 under section 271(1)(c) for the assessment year 1994-95 was dismissed by the ITAT. The ITAT held that the penalty order was time-barred under section 275(1)(a) and not covered by section 275(1A), as the latter provision was inserted after the initiation of penalty proceedings. The decision affirmed the deletion of the penalty by the learned CIT(A) and concluded that the penalty should be determined based on the law applicable at the time of the offense, leading to the dismissal of the Revenue's appeal. en-us Fri, 04 Mar 2016 00:00:00 +0530 Fri, 06 Sep 2019 18:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283093 The appeal against the deletion of a penalty of Rs. 33,60,000 under section 271(1)(c) for the assessment year 1994-95 was dismissed by the ITAT. The ITAT held that the penalty order was time-barred under section 275(1)(a) and not covered by section 275(1A), as the latter provision was inserted after the initiation of penalty proceedings. The decision affirmed the deletion of the penalty by the learned CIT(A) and concluded that the penalty should be determined based on the law applicable at the time of the offense, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 04 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283093