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TMI Blog2019 (2) TMI 1510X X X X Extracts X X X X X X X X Extracts X X X X ..... from the initiation of penalty proceedings issued by the JCIT/ACIT and on that score held that the penalty order dated 30.12.2011 is unsustainable on the ground that in view of the period of limitation provided u/s 275(1)(c), limitation expires at the latest by 30.6.2011 itself. - Decided against revenue. - ITA No.6422/Del/2016 - - - Dated:- 25-2-2019 - Shri Prashant Maharishi, Accountant Member And Shri K. Narasimha Chary, Judicial Member For the Assessee : None For the Revenue : Shri S.S. Rana, CIT( DR) ORDER PER K. NARASIMHA CHARY, JM Challenging the order dated 9.9.2016 in Appeal No.237/11-12 for the Assessment Year 2008-09 by the learned Commissioner of Income tax (Appeals)-XXVI, New Delhi, {hereinafter re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch action for imposition of penalty was initiated or six months from the end of the month in which action for imposition of penalty was initiated. It was, therefore, contended that since FY 2010-11 was expired by 31.3.2011 and six months from the initiation of the penalty proceedings expired on 30.6.2011, no penalty could have been passed at the latest subsequent to 30.6.2011. On this premise, it was submitted that the penalty order dated 30.12.2011 which was certainly after the period of limitation prescribed u/s 271(1)(c) of the Act was barred by limitation. 4. Learned CIT(A) accepted the contention of the assessee in the light of the decision of the Hon ble Delhi High Court in the case of PCIT vs. IKD Capital and Finlease Ltd., ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of limitation contrary to the department view thereon, shall not be operative in the area falling under the jurisdiction of the relevant High Court. Learned CIT(A) after noticing this Para 6 of the Circular, while respectfully following the decision of the Hon ble jurisdictional High Court, hold that the period of limitation to be starting from the date of issuance of notice by the ld. AO and not from the initiation of penalty proceedings issued by the JCIT/ACIT and on that score held that the penalty order dated 30.12.2011 is unsustainable on the ground that in view of the period of limitation provided u/s 275(1)(c), limitation expires at the latest by 30.6.2011 itself. 8. In so far as the facts and dates are concerned, there is no disp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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