Penalty 271D
Lalit Kumar Chhabra (14 Points)
09 March 2019
whether penalty u/s 271D can be imposed today for a loan taken in cash in the year 2006 or before.
8 Replies
Lalit Kumar Chhabra
(14 Points)
Replied 09 March 2019
how,
because in Act no bar of initiation is mentioned.....
because in Act no bar of initiation is mentioned.....
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 09 March 2019
many courts have pronounced that initiation of penalty proceedings should be within reasonable time . for reasonable time, the courts have also mentioned that the time limit should be also as that of time limit to initiate reassessment proceedings
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 09 March 2019
Just google it, you ll get hundreds of case laws
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 09 March 2019
OK... Ill text you the citation number
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 09 March 2019
PLS refer cbdt circular no. 09/dv/2016 dated 26/04/2016
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