Penalty not invokable if barred by limitation or there is absence of mala fide intention

Brief of the Case

In the present case the Hon’ble Tribunal held that penalty could not be levied if it is barred by limitation or if the intention of going against the Law is absent.

Facts of the Case

These are the two appeals relating to two different AYs which have been agitated by the Assessee against the common order against the confirmation of the penalty levied u/s 271D of the income Tax Act. The Asse

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