https://www.taxtmi.com/caselaws?id=761717 The Delhi HC held that issuing assessment proceedings in the name of an entity that had ceased to exist prior to proceedings was a curable defect under Section 292B, as it involved only a name change without entity change, following Sky Light Hospitality LLP precedent. However, the penalty order dated 29.07.2013 was time-barred under Section 275(1)(c), as it was passed beyond the six-month limitation period from when penalty proceedings were initiated following the March 2011 assessment order. The ITAT correctly deleted the penalty on limitation grounds. Decision favored the assessee on the limitation issue. en-us Tue, 12 Nov 2024 00:00:00 +0530 Wed, 13 Nov 2024 17:57:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761717 The Delhi HC held that issuing assessment proceedings in the name of an entity that had ceased to exist prior to proceedings was a curable defect under Section 292B, as it involved only a name change without entity change, following Sky Light Hospitality LLP precedent. However, the penalty order dated 29.07.2013 was time-barred under Section 275(1)(c), as it was passed beyond the six-month limitation period from when penalty proceedings were initiated following the March 2011 assessment order. The ITAT correctly deleted the penalty on limitation grounds. Decision favored the assessee on the limitation issue. Case-Laws Income Tax Tue, 12 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761717