Section 272A(2) penalty not leviable on or after 1st Day of July, 2012

ITO (TDS) Vs Hadpawat Enterprises (P) Ltd. (ITAT Jodhpur)

From a plain reading of second proviso to Section 272A(2) which is inserted by the Finance Act, 2012 w.e.f. 01-07-2012, it is clear that penalty under clause (k) of Section 272(A)(2) cannot be levied on or after the 1st Day of July, 2012. In the instant case, the penalty order is dated 04-03-2013 and therefore, is in violation of the provisions of the Act The order is passed beyond the period stipulated by the Act and is time-bared therefore liable to be quashed on th

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