https://www.taxtmi.com/caselaws?id=434983 The Court ruled in favor of the petitioner, quashing the show-cause notice and subsequent order related to the penalty under Section 271C of the Income Tax Act. It found the delay in issuing the notice, nearly a decade after the relevant financial year, to be unjustifiable. The Court emphasized the necessity of adhering to statutory timelines for initiating penalty proceedings, highlighting the importance of procedural fairness and timely action by revenue authorities to prevent prejudice against taxpayers. en-us Thu, 16 Feb 2023 00:00:00 +0530 Wed, 13 Dec 2023 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434983 The Court ruled in favor of the petitioner, quashing the show-cause notice and subsequent order related to the penalty under Section 271C of the Income Tax Act. It found the delay in issuing the notice, nearly a decade after the relevant financial year, to be unjustifiable. The Court emphasized the necessity of adhering to statutory timelines for initiating penalty proceedings, highlighting the importance of procedural fairness and timely action by revenue authorities to prevent prejudice against taxpayers. Case-Laws Income Tax Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434983