Bombay HC Quashes Penalty as Order Giving Effect Was Not Passed Within Limitation

Global Hospitality Licensing SARL Vs Assistant/DCIT (International Taxation) (Bombay High Court) The Bombay High Court allowed the writ petition challenging a penalty order dated 30 March 2023 passed under Section 271(1)(c) of the Income-tax Act, 1961, along with the consequential demand notice. The petitioner contended that the penalty proceedings could not survive because the Assessing Officer failed to pass an order giving effect (OGE) to the Commissioner of Income Tax (Appeals) [CIT(A)] order within the limitation period prescribed under Section 153 of the Act, resulting in abatement of t...