9911796707
TMI Blog2024 (1) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... d expires later. It is, therefore, clear that under section 275(1)(c) two dates are relevant. First one is that the last date of the financial year in which proceedings, in the course of which action for imposition of penalty has been initiated. Second one is the date on which six months from the end of the month in which action for imposition of penalty was initiated. As there is no assessment for the assessment year 2016-17. It is only during the assessment proceedings for the assessment year 2017-18 the violation of section 269SS of the Act noticed. The date of assessment order for the assessment year 2017-18 is 04/12/2019. The date of notice under section 271D of the Act was issued by the Additional/Joint CIT is 16/03/2020. The finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t year 2016-17, assessee preferred this appeal. 2. Main plank of the argument on behalf of the assessee is that penalty order is barred by limitation inasmuch as under section 275(1)(c) Income Tax Act, 1961 ( the Act ), no penalty order under Chapter-XXI including under section 271D of the Act could be passed after the expiry of the financial year in which the proceedings, in the course of which action for imposition of penalty has been initiated, are completed, or six months from the end of the month, in which action for imposition of penalty is initiated, whichever period expires later. According to him, since the Additional/Joint CIT issued and served notice under section 271D of the Act on 16/03/2020 and the order under section 271D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or imposition of penalty has been initiated. Second one is the date on which six months from the end of the month in which action for imposition of penalty was initiated. 6. In this case, there is no assessment for the assessment year 2016-17. It is only during the assessment proceedings for the assessment year 2017-18 the violation of section 269SS of the Act noticed. The date of assessment order for the assessment year 2017-18 is 04/12/2019. The date of notice under section 271D of the Act was issued by the Additional/Joint CIT is 16/03/2020. The financial year in which the notice was issued is 31/03/2020. At the same time, six months from the end of the month in which the proceedings under section 271D of the Act expires by 31/06/2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
