Penalty Passed Beyond Time Limit under Section 275(1)(c) Held Invalid

Narendrakumar Lalchand Jain Vs ITO (ITAT Mumbai)

Penalty u/s 271(1)(b) quashed as time barred- Order passed beyond limitation u/s 275(1)(c): ITAT Mumbai

Mumbai ITAT struck down a penalty of ₹10,000 levied u/s 271(1)(b) for alleged non-compliance with a statutory notice, holding that the order was passed well beyond the limitation period prescribed u/s 275(1)(c).

Assessee’s assessment for AY 2012-13 was completed u/s 144 r.w.s. 143(3) on 17.12.2019, wherein an addition of ₹2,37,700 was made u/s 68. AO, on 18.12.2019, initiated penalty proceedings

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