https://www.taxtmi.com/caselaws?id=429050 The Tribunal quashed the penalty orders under Sections 271D and 271E of the Income Tax Act, deeming them time-barred under Section 275(1)(c). The Tribunal found that the penalties were imposed beyond the statutory time limit, rendering the orders legally invalid. Consequently, the appeals filed by the assessee were allowed, and the merits of the penalties were not adjudicated. The decision was pronounced in open court on 14.10.2022. en-us Fri, 14 Oct 2022 00:00:00 +0530 Wed, 18 Dec 2024 21:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429050 The Tribunal quashed the penalty orders under Sections 271D and 271E of the Income Tax Act, deeming them time-barred under Section 275(1)(c). The Tribunal found that the penalties were imposed beyond the statutory time limit, rendering the orders legally invalid. Consequently, the appeals filed by the assessee were allowed, and the merits of the penalties were not adjudicated. The decision was pronounced in open court on 14.10.2022. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429050