PCIT v. Thapar Homes Ltd.(2025) 483 ITR 248 (Delhi)(HC)

S. 275 : Penalty-Bar of limitation-Notice for levy of penalty must be issued before expiry of limitation-Notice was barred by limitation. [S.274, 275(1)(c)]

Held, that although the decision to initiate penalty proceedings was found embedded in the assessment order dated December 31, 2010 and approval to frame the assessment order was given prior to that date, the notice was issued only on June 13, 2011. The notice was barred by limitation.(AY.2008-09)

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