Penalty overturned for non-compliance with notices due to hostile Director. Appeal allowed by Tribunal.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The case involves penalty imposition u/s 272A(1)(d) for non-compliance with statutory notices issued u/ss 143(2) and 142(1). Assessee explained non-compliance due to a hostile Director holding relevant information. The argument that subsequent compliance cannot be considered as assessment was u/s 144 was dismissed. Assessee's argument focused on substantial compliance post-penalty order. Penalty u/s 272A(1)(d) was deleted, and assessee's appeal allowed by the Appellate Tribunal (ITAT).....