| Question And Answer | |
|---|---|
| Subject: | Penalty u/s 271E |
| Category: | Income-Tax |
| Querist: | CA Pramod Patni |
| Answered by: | Law Intern |
| Tags: | Section 271E |
| Date: | October 9, 2025 |
While the Re-assessment proceedings based on the finding in a third party search holding the fact of cash transaction itself pending in appeal which remains subjudice, whether such Penalty to be levied without waiting for decison in the appeals against re-asst proceedings.
Yes. Penalty under Section 271E can be levied without waiting for the decision in the appeals against the reassessment proceedings as these proceedings are independent. Pendency of appeal does not create any legal embargo.
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