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Penalty 271D
whether penalty u/s 271D can be imposed today for a loan taken in cash in the year 2006 or before.
Replies (8)
no... it cannot be..
how,
because in Act no bar of initiation is mentioned.....
because in Act no bar of initiation is mentioned.....
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
any citation
Just google it, you ll get hundreds of case laws
I didn't find sir
OK... Ill text you the citation number
PLS refer cbdt circular no. 09/dv/2016 dated 26/04/2016
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