Only First 142(1) Default Penalizable: ITAT Slashes Penalty and Sends Other Issues Back

Gajanfar Ali Vs ITO (ITAT Chandigarh)

Penalty Package Broken: Six Defaults Under 142(1): ITAT Says Only First One Valid—₹50,000 Penalty Deleted- Major Penalties Sent Back- Trims 271(1)(b) & Cut Down to ₹10,000 Only

Assessee filed three appeals challenging penalties: ₹60,000 u/s 271(1)(b) for six non-compliances, ₹25,000 u/s 271A for failure to maintain books & ₹5,01,260 u/s 271(1)(c) for alleged concealment. CIT(A) dismissed all appeals in limine citing delay of 139 days without condonation.

Before Tribunal, AR pleaded for

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