https://www.taxtmi.com/caselaws?id=387218 The Tribunal allowed the appeal, setting aside the penalty order under Section 158BFA(2) of the Income Tax Act as it was passed beyond the limitation period. The penalty order issued on 28.04.2017 was deemed void ab initio since it exceeded the prescribed period starting from the receipt of the ITAT's order by the Principal CIT-1 on 08.01.2015. The Tribunal relied on the Delhi High Court judgment in 'CIT-7 Vs Odeon Builders Pvt Ltd.' to support this interpretation. en-us Wed, 10 Jul 2019 00:00:00 +0530 Sat, 19 Oct 2019 15:05:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387218 The Tribunal allowed the appeal, setting aside the penalty order under Section 158BFA(2) of the Income Tax Act as it was passed beyond the limitation period. The penalty order issued on 28.04.2017 was deemed void ab initio since it exceeded the prescribed period starting from the receipt of the ITAT's order by the Principal CIT-1 on 08.01.2015. The Tribunal relied on the Delhi High Court judgment in 'CIT-7 Vs Odeon Builders Pvt Ltd.' to support this interpretation. Case-Laws Income Tax Wed, 10 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387218