Penalty order passed beyond time period framed u/s. 275(1)(c) untenable: Delhi HC

CIT (TDS)-1 Vs Adma Solutions Pvt Ltd (Delhi High Court) Delhi High Court held that passing of penalty order after the lapse of six months from the end of the month in which the penalty proceedings were initiated by the AO is untenable. Thus, penalty order set aside as passed beyond time period framed u/s. 275(1)(c) of the Income Tax Act. Facts- The assessee M/s. Adma Solutions Pvt. Ltd. (formerly known as M/s. Infovision Information Services Pvt. Ltd.) is a corporation engaged in the business of rendering Call Centre Services and derives income from such business. A survey operation u/s. 133A...