Penalty Imposed u/s 221(1) and 140A(3) Deemed Erroneous Due to Misalignment of Amendments Since April 1, 1989.

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....Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of self-assessment tax - without there being any requisite corresponding amendment to Sec. 221 in consonance with the amendments carried out in Sec. 140A(3) w.e.f. 01.04.1989, the AO erred in levying the penalty. - AT....