Subramanian Manoharan vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Subramanian Manoharan, filed an income return for the assessment year 2016-17 on 31.01.2018, declaring a total income of Rs.3,94,720/-. During the relevant assessment year, the assessee sold a property and received Rs.7,00,000/- in cash, violating the provisions of section 269SS of the Income Tax Act, 1961. The assessment unit imposed a penalty of Rs.7,00,000/- under section 271D of the Act for violating section 269SS. The First Appellate Authority (FAA) partly allowed the assessee's appeal, deleting a sum of Rs.4,00,000/- by following a previous order of the Chennai Bench of the Tribunal. The assessee then filed the present appeal before the Tribunal, challenging the addition of Rs.3,00,000/- imposed under section 271D of the Act.…

Legal Issues

• 1. Whether the penalty order imposed under section 271D of the Act is barred by limitation.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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