https://www.taxtmi.com/highlights?id=81778 The key points are regarding the penalty imposed u/s 271D read with Section 269SS, and the issue of whether the penalty orders were time-barred. The Assessing Officer made a recommendation for initiating penalty on 08/12/2017. According to Section 275(1)(c), the first condition is that the financial year in which the penalty proceedings were initiated should have expired on 31/03/2018. The second condition is that six months from the end of the month in which the action for penalty imposition was initiated should have expired on 30/06/2018. However, the Additional Commissioner of Income Tax (Appeals) initiated the penalty on 07/07/2018, despite the recommendation being made on 08/12/2017. Therefore, the penalty orders are barred by the limi..... en-us Sat, 28 Sep 2024 08:11:12 +0530 Sat, 28 Sep 2024 08:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81778 The key points are regarding the penalty imposed u/s 271D read with Section 269SS, and the issue of whether the penalty orders were time-barred. The Assessing Officer made a recommendation for initiating penalty on 08/12/2017. According to Section 275(1)(c), the first condition is that the financial year in which the penalty proceedings were initiated should have expired on 31/03/2018. The second condition is that six months from the end of the month in which the action for penalty imposition was initiated should have expired on 30/06/2018. However, the Additional Commissioner of Income Tax (Appeals) initiated the penalty on 07/07/2018, despite the recommendation being made on 08/12/2017. Therefore, the penalty orders are barred by the limi..... Highlights Income Tax Sat, 28 Sep 2024 08:11:12 +0530 https://www.taxtmi.com/highlights?id=81778