M/S. BONY POLYMERS PVT. LTD.,NEW DELHI vs. JCIT, GURGAON

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Before Suchitra Kamble

272A(2)(k), however, the courts have held that such penalty proceedings should be initiated within a reasonable period of four years. The Hon’ble Delhi High Court in the case of CIT vs. NHK Japan Broadcasting Corporation (Supra) has held that initiation of proceedings under 5 Section 201 against the assessee in respect of the assessment year

SH. SANJAY DALMIA,NEW DELHI vs. DCIT, NEW DELHI

In the result all the appeal filed by the assessee are dismissed