Taxpayer Cannot Be Penalized for Officer's Delay in Issuing Order u/s 270AA, High Court Rules.

Penalty under Section 270A - Period of limitation - under-reported income - Petitioner cannot be prejudiced by the inaction of the Assessing Officer in passing an order under Section 270AA of the Act within the statutory time limit as it is settled law that no prejudice can be caused to any assessee on account of delay/default on the part of the Revenue. - HC .....

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