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Penalty 271D

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14 Points Posted on 09 March 2019
whether penalty u/s 271D can be imposed today for a loan taken in cash in the year 2006 or before.
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On 09 March 2019 at 17:15 Report
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INCOME TAX OFFICER
1736 Points Posted on 09 March 2019
no... it cannot be..
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On 09 March 2019 at 18:05
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14 Points Posted on 09 March 2019
how,
because in Act no bar of initiation is mentioned.....
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On 09 March 2019 at 18:53
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INCOME TAX OFFICER
1736 Points Posted on 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
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On 09 March 2019 at 20:09
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14 Points Posted on 09 March 2019
any citation
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On 09 March 2019 at 20:35
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INCOME TAX OFFICER
1736 Points Posted on 09 March 2019
Just google it, you ll get hundreds of case laws
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On 09 March 2019 at 21:15
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14 Points Posted on 09 March 2019
I didn't find sir
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On 09 March 2019 at 23:01
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INCOME TAX OFFICER
1736 Points Posted on 09 March 2019
OK... Ill text you the citation number
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On 09 March 2019 at 23:03
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INCOME TAX OFFICER
1736 Points Posted on 09 March 2019
PLS refer cbdt circular no. 09/dv/2016 dated 26/04/2016
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On 09 March 2019 at 23:24


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