https://www.taxtmi.com/caselaws?id=769841 The ITAT Ranchi allowed the assessee's appeal and deleted the penalty levied under section 271C of the Income Tax Act. The tribunal held that the penalty notice was issued beyond the limitation period. Following precedents from Hindustan Coca Cola Beverages Co. Pvt. Ltd, NHK Japan Broadcasting, and Bharti Airtel cases, the tribunal ruled that the date of knowledge is irrelevant for exercising jurisdiction under the Income Tax Act, as importing the concept of knowledge would render limitation periods under sections 147/148 meaningless. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769841 The ITAT Ranchi allowed the assessee's appeal and deleted the penalty levied under section 271C of the Income Tax Act. The tribunal held that the penalty notice was issued beyond the limitation period. Following precedents from Hindustan Coca Cola Beverages Co. Pvt. Ltd, NHK Japan Broadcasting, and Bharti Airtel cases, the tribunal ruled that the date of knowledge is irrelevant for exercising jurisdiction under the Income Tax Act, as importing the concept of knowledge would render limitation periods under sections 147/148 meaningless. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769841