ITAT Nullifies Penalty: Section 271D Proceedings Initiated Late, Violating Section 275(1)(c) Time Limit.

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....Period of limitation for levy of penalty - Penalty proceedings u/s 271D - penalty order, was passed beyond the time period prescribed by Section 275(1)(c) - the same having been passed after the lapse of six months from the end of the month in which the penalty proceedings were initiated by the AO - ITAT rightly deleted the penalty - HC....