ITAT quashes section 271D penalty order as it was barred by limitation

Ram Kishan Verma Vs Additional CIT (ITAT Jaipur) Introduction: The Income Tax Appellate Tribunal (ITAT) recently ruled in the case of Ram Kishan Verma Vs Additional CIT (ITAT Jaipur), where the penalty order under section 271D was quashed on the grounds of being time-barred. This article provides a comprehensive analysis of the case, examining the legal provisions, timeline of events, and the tribunal’s decision. Background of the Case: The case revolves around the imposition of a penalty under section 271D of the Income Tax Act. Section 271D deals with penalties for contravention of pro...