https://www.taxtmi.com/caselaws?id=778212 ITAT DELHI - AT upheld a Rs.10,000 penalty for each assessment year for non-compliance with the first notice under s.142(1), finding AO's delay in initiating proceedings rendered other penalties non-deterrent and improperly pursued post-assessment. Penalties imposed for non-compliance with s.143(2) notices and for subsequent s.142(1) notices were deleted. The Tribunal held s.272A(1)(d) is meant to secure timely compliance, not to generate revenue, and therefore confirmed only the penalty relating to the first s.142(1) notice per year. en-us Thu, 16 Jan 2025 00:00:00 +0530 Fri, 12 Sep 2025 08:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778212 ITAT DELHI - AT upheld a Rs.10,000 penalty for each assessment year for non-compliance with the first notice under s.142(1), finding AO's delay in initiating proceedings rendered other penalties non-deterrent and improperly pursued post-assessment. Penalties imposed for non-compliance with s.143(2) notices and for subsequent s.142(1) notices were deleted. The Tribunal held s.272A(1)(d) is meant to secure timely compliance, not to generate revenue, and therefore confirmed only the penalty relating to the first s.142(1) notice per year. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778212