Penalty cannot be levied merely on the ground of non-contest

Commissioner Of Tax , GSTVs. M/s Indian Railway Finance Corporation (Delhi High Court) Having heard counsel for the appellant, we are not inclined to interfere with the impugned order, which records and affirms on the bona fide conduct of the respondent- assessee, M/s. Indian Railway Finance Corporation. 2. The respondent-Corporation, a Government of India Corporation, was established with an objective to raise money from the market to part finance the planned outlay and finance capital expenditure for expansion, development and modernization of Indian Railways. The respondent-Corporation in t...