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TMI Blog2022 (3) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... E DINESH KUMAR SHARMA Petitioner Through Mr.Sachit Jolly with Mr. Rohit Garg, Ms.Disha Jham, Ms.Mehak Sachdeva and Mr.Sohum Dua, Advocates. Respondents Through Mr.Sunil Agarwal, senior standing counsel with Mr. Tushar Gupta and Mr. Amarth Chaudhari, Advocates for the Revenue. J U D G M E N T MANMOHAN, J (Oral): 1. Present writ peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thin the scope and ambit of Section 270AA of the Act. 3. Learned counsel for the Petitioner submits that the impugned order is barred by limitation in terms of Section 270AA(4) of the Act, having been passed well beyond the period of one month from the end of the month in which the Petitioner had filed the application seeking immunity. 4. He states that in the instant case, all the facts, inform ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was initiated under Section 270A of the Act for misreporting of income is not only erroneous but also arbitrary and bereft of any reason as in the penalty notice the Respondents have failed to specify the limb - "underreporting" or "misreporting" of income, under which the penalty proceedings had been initiated. 7. This Court also finds that there is not even a whisper as to which limb of Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intent of Section 270AA of the Act to encourage/incentivize a taxpayer to (i) fast-track settlement of issue, (ii) recover tax demand; and (iii) reduce protracted litigation. 10. Consequently, the impugned order dated 09th March, 2022 passed by Respondent No.1 under Section 270AA (4) of the Act is set aside and Respondent No.1 is directed to grant immunity under Section 270AA of the Act to the P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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