https://www.taxtmi.com/caselaws?id=67810 Penalty for delayed filing under section 271(1)(a) was held unsustainable where no penalty proceedings were initiated when the assessment was first completed under section 143(1). The omission at the initial assessment stage was treated as an implied waiver of penal action, and that waiver could not be displaced merely because the assessment was later reopened and completed under section 143(3). On that basis, the later initiation of penalty proceedings was found unjustified and the penalty was cancelled. en-us Sat, 30 Jan 1982 00:00:00 +0530 Mon, 14 Mar 2011 17:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67810 Penalty for delayed filing under section 271(1)(a) was held unsustainable where no penalty proceedings were initiated when the assessment was first completed under section 143(1). The omission at the initial assessment stage was treated as an implied waiver of penal action, and that waiver could not be displaced merely because the assessment was later reopened and completed under section 143(3). On that basis, the later initiation of penalty proceedings was found unjustified and the penalty was cancelled. Case-Laws Income Tax Sat, 30 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67810