High Court Reinstates Penalty u/s 158 BFA (2) of Income Tax Act, Overruling Tribunal's Limitation-Based Decision.

High Court Reinstates Penalty u/s 158 BFA (2) of Income Tax Act, Overruling Tribunal's Limitation-Based Decision. https://www.taxtmi.com/highlights?id=50664 Imposition of penalty u/s 158 BFA (2) of the Income Tax Act, 1961 - Period of limitation - HC confirmed the addition by reversing the order of ITAT - AO passed the order dated 3.8.2007 - Penalty order passed as on 15.5.2011, is barred by limitation. en-us Wed, 11 Dec 2019 14:06:53 +0530 Wed, 11 Dec 2019 14:06:53 +0530 TaxTMI RSS Generator High Court Reinstates Penalty u/s 158 BFA (2) of Income Tax Act, Overruling Tribunal's Limitation-Based Decision. https://www.taxtmi.com/highlights?id=50664 Imposition of penalty u/s 158 BFA (2) of the Income Tax Act, 1961 - Period of limitation - HC confirmed the addition by reversing the order of ITAT - AO passed the order dated 3.8.2007 - Penalty order passed as on 15.5.2011, is barred by limitation. Highlights Income Tax Wed, 11 Dec 2019 14:06:53 +0530 https://www.taxtmi.com/highlights?id=50664