https://www.taxtmi.com/caselaws?id=435927 The Tribunal found that the penalty of Rs. 40,000/- imposed under Section 272A(1)(d) for non-compliance with alleged directions for a special audit under Section 142(2A) was unjustified. It held that the letters issued did not meet the requirements of being valid directions under Section 142(2A) as they lacked specific audit points and prior approval from the Principal Commissioner of Income Tax. Therefore, the penalty was deemed illegal, and the Tribunal allowed the appeal, deleting the penalty. en-us Mon, 20 Mar 2023 00:00:00 +0530 Wed, 29 Mar 2023 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435927 The Tribunal found that the penalty of Rs. 40,000/- imposed under Section 272A(1)(d) for non-compliance with alleged directions for a special audit under Section 142(2A) was unjustified. It held that the letters issued did not meet the requirements of being valid directions under Section 142(2A) as they lacked specific audit points and prior approval from the Principal Commissioner of Income Tax. Therefore, the penalty was deemed illegal, and the Tribunal allowed the appeal, deleting the penalty. Case-Laws Income Tax Mon, 20 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435927