Penalty Proceedings Initiate from Date of Reference Receipt by Additional CIT: Delhi HC

 Property Plus Realtors Vs  Union of India & Ors. (Delhi High Court) Delhi High Court has set aside a penalty of ₹14.63 crore imposed on Property Plus Realtors under Section 271DA of the Income Tax Act, 1961, for alleged violations of Section 269ST. The court ruled that the order, issued on October 17, 2024, was beyond the statutory limitation period prescribed under Section 275(1)(c) of the Act. It held that the penalty proceedings should be considered initiated from the date the reference was received by the Additional Commissioner of Income Tax—January 18, 2023—not a later date ...