https://www.taxtmi.com/caselaws?id=67840 Penalty for non-payment of self-assessment tax under section 140A was held unsustainable where initiation and conclusion of proceedings occurred after several years. The delay defeated the deterrent and corrective purpose of the penalty regime, frustrated expeditious recovery of self-assessment tax, and was treated as inordinate and unreasonable. On those facts, the tribunal found that the assessee had been misled into believing that no penalty would follow, so the penalty was not exigible and relief was granted to the assessee. en-us Tue, 17 May 1983 00:00:00 +0530 Mon, 14 Mar 2011 18:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67840 Penalty for non-payment of self-assessment tax under section 140A was held unsustainable where initiation and conclusion of proceedings occurred after several years. The delay defeated the deterrent and corrective purpose of the penalty regime, frustrated expeditious recovery of self-assessment tax, and was treated as inordinate and unreasonable. On those facts, the tribunal found that the assessee had been misled into believing that no penalty would follow, so the penalty was not exigible and relief was granted to the assessee. Case-Laws Income Tax Tue, 17 May 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67840