High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Penalty Limitation Case — Tribunal's Order Setting Aside Penalty Under Section 271D Upheld. The Court Held That the Penalty Order Passed by the Range Head Was Barred by Limitation Under Section 275(1)(c) of the Income Tax Act, 1961, as the Assessment Order Was Set Aside by the Commissioner (Appeals) and the Penalty Was Not Imposed Within the Financial Year.
17 Jan 2025The Revenue (Pr. Commissioner of Income Tax and Income Tax Officer) filed an appeal under Section 260A of the Income Tax Act, 1961, challenging the or...
