Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (6) TMI 295 - AT - Income TaxPenalty u/s.221(1) - non-payment of admitted tax - HELD THAT:- Since the very addition has been deleted and there is no outstanding demand of tax, the penalty u/s.221 of the Act is not sustainable. Also find support from the decision of Heddle Knowledge (P) Ltd., Vs. ITO [2018 (3) TMI 208 - ITAT MUMBAI] wherein the Tribunal has considered the amended provisions of 140A(3) of the Act w.e.f. 01-04-1989 and held that it does not envisage any penalty for non-payment of self-assessment tax and therefore the AO was not justified in levying penalty by taking recourse to Section 221(1). In view of the provisions of Section 221(2) delete the penalty levied u/s.221(1). Accordingly, the appeal of assessee is allowed.
|