Penalty order barred by limitation u/s 275(1)(c) is not valid

ITO Vs Shri Prashant Sharma (ITAT Jaipur) Conclusion: Order of penalty passed under sections 271D and 271E was to set aside as the same was passed after expiry of six months from the action initiated for imposition of penalty and barred by limitation as per section 275(1)(c). Held: In the instant case, two show cause notices issued u/s 274 for initiation of penalty u/s 271D and 271E. First show cause notice was issued by the ITO on 30.12.2011 at the time of completion of the assessment and the second show cause notice was issued thereafter by the additional/Joint Commissioner on 10.09.2012. As...