https://www.taxtmi.com/caselaws?id=782289 ITAT Delhi deleted the penalty imposed u/s 271E, holding it to be time-barred. The assessment was completed on 30.12.2019 and satisfaction for initiation of penalty proceedings was recorded on the same date. Under the applicable limitation provision, penalty u/s 271E had to be levied by the later of (i) the end of the financial year in which assessment was completed (31.03.2020), or (ii) six months from the end of the month in which penalty proceedings were initiated (30.06.2020). As the penalty order dated 10.02.2022 was passed beyond this period, it was held invalid and the appeal of the assessee was allowed. en-us Thu, 31 Jul 2025 00:00:00 +0530 Thu, 27 Nov 2025 08:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782289 ITAT Delhi deleted the penalty imposed u/s 271E, holding it to be time-barred. The assessment was completed on 30.12.2019 and satisfaction for initiation of penalty proceedings was recorded on the same date. Under the applicable limitation provision, penalty u/s 271E had to be levied by the later of (i) the end of the financial year in which assessment was completed (31.03.2020), or (ii) six months from the end of the month in which penalty proceedings were initiated (30.06.2020). As the penalty order dated 10.02.2022 was passed beyond this period, it was held invalid and the appeal of the assessee was allowed. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782289