https://www.taxtmi.com/caselaws?id=403788 The Tribunal ruled in favor of the Assessee, quashing the penalty order under section 271E of the Income Tax Act, 1961, on the grounds of being time-barred. The Assessee successfully argued that the penalty order exceeded the prescribed time limit, making it unsustainable. The Tribunal considered the jurisdiction change, rehearing request impact, and the Hon'ble High Court's intervention in condoning delay and remanding the appeal. Ultimately, the Tribunal found in favor of the Assessee, emphasizing the procedural complexities and the importance of adhering to statutory time limits in penalty proceedings. en-us Wed, 03 Feb 2021 00:00:00 +0530 Mon, 08 Feb 2021 15:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403788 The Tribunal ruled in favor of the Assessee, quashing the penalty order under section 271E of the Income Tax Act, 1961, on the grounds of being time-barred. The Assessee successfully argued that the penalty order exceeded the prescribed time limit, making it unsustainable. The Tribunal considered the jurisdiction change, rehearing request impact, and the Hon'ble High Court's intervention in condoning delay and remanding the appeal. Ultimately, the Tribunal found in favor of the Assessee, emphasizing the procedural complexities and the importance of adhering to statutory time limits in penalty proceedings. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403788