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2017 (10) TMI 56 - ITAT AHMEDABADPenalty u/s 221(1) - non-payment of self-assessment tax under section 140A at the time of filing an income tax return which has been revised subsequently - Held that:- The assessee is, in principle, covered by the scope of the penalty under section 221(1) of the Act in a case in which the though the assessee has not paid the admitted tax liability under section 140A, while filing the original return of income, the assessee subsequently pays the tax on the revised return of income, at the time of filing the revised return of income. We, therefore, answer the question referred to the special bench in affirmative and against the assessee. However, whether the penalty under section 221(1) r.w.s. 140A(1) is actually leviable on the facts of a particular case or not will depend on the facts of that case and depending on, inter alia, the factual finding as to whether or not the default of the assessee was for good and sufficient reasons- something with which we are not really concerned at this stage due to inherently limited scope of the question before the special bench. The matter shall now go back to the division bench for giving effect to our above observations and for deciding the matter afresh in the light of, inter alia, the above stated legal position. Pronounced in the open court today on the 26th day of September 2017.
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