Whether the omission of reference of section 40A(2)(b) from section 92BA by virtue of the amendment of Finance Act, 2017 w.e.f. 01.04.2017 shall be deemed not to be on the statute since its introduction w.e.f. 01.04.2012?
It does appear that the E-Way Bill had been downloaded and produced though with some delay but before conclusion of the penalty proceedings.
Pursuant to the amendment made by Finance Act 2017, omission of clause (i) of Section 92BA of the IT Act, 1961 be deemed to be removed from statute since the beginning until and unless there is some saving clause or provision that pending proceedings shall be continued and be disposed off under old rules.
The other ground of seizure on which penalty has been imposed is that the goods, started their journey one week after the date of the invoice. Prima facie that cannot be the ground to seize the goods or to impose penalty.
The time barring assessment work of the Department for Financial Year 2017-2018 closes on 31.12.2017. In view of above, all the non working days/holidays from 23.12.2017 to 31.12 2017 will be treated as working days and all the Income Tax Offices in Delhi shall remain open for normal office hours till 31st December, 2017.
