2022 (4) TMI 909

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....For the Petitioner(s) : Mr. Sanjay Jhanwar, Sr. Advocate with Mr. Rajat Sharma, Advocate through VC For the Respondent(s) : Mr. Nikhil Simlote, Advocate with Mr. Amit Malani, Advocate JUDGMENT / ORDER Heard learned counsel for the parties. Learned counsel for the respondents submits that he has filed reply. Heard on prayer for stay. Learned counsel for the petitioner would argue ....

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.... of 2015 ought to have stayed further proceedings awaiting the order that may be passed in appeal. In support of his submission, learned counsel for the petitioner has placed reliance upon the judgment of the Hon'ble Supreme Court in case of Commissioner Income-Tax Vs. Bhupen Champak Lal Dalal, (2001) 116 Taxman 746 (SC). On the other hand, learned counsel appearing for respondents-revenue w....

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.... for imposition of penalty under Section 46 of the Act, which has already given to the petitioner, the proceedings are required to be carried out otherwise the proceedings itself would be barred by limitation provided under the law. Lastly, it is submitted that any order passed in penalty proceedings could always be challenged by way of appeal under Section 15 of the Act of 2015. According to lear....

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....ver, keeping in view the submissions of learned counsel for the respondent regarding mandate of Section 47 of the Act of 2015 with regard to bar of limitation for completion of penalty proceedings, if no order is passed after expiry of a period of one year from the end of the financial year in which the notice for imposition of penalty is issued under Section 46 of the Act of 2015 and further taki....