Penalty u/s. 272A(1)(d) not imposable when assessment completed u/s. 143(3): ITAT Raipur

Bhavna Modi Vs ITO (ITAT Raipur) ITAT Raipur held that penalty imposed under section 272A(1)(d) of the Income Tax Act unjustified when an assessment has been completed under section 143(3) of the Income Tax Act. Facts- The assessee is an individual, have filed her Return of Income (ROI) on 05.09.2020, which was processed u/s 143(1). The case of the assessee was selected for limited scrutiny under the ‘CASS’. Accordingly, notice u/s 142 of the Act was issued and duly served upon the assessee. While culminating the assessment, AO have made the observation to initiate penalty proceedings u/s ...