ITAT Hyderabad Dropped Penalties When Compliance Made Before Assessment Ends

Sreedevi Voram Vs ITO (ITAT Hyderabad) Penalties Deleted as Assessee Ultimately Complied and Delay Was Due to Unavoidable Personal Circumstances Brief Facts The assessee operated a petrol bunk allotted by HPCL. Due to the serious illness and subsequent demise of her husband (who managed operations), the business was leased out; income during the year comprised lease rentals. No return was filed initially under section 139. Subsequently, in response to notice under section 148, the assessee filed the return and furnished comprehensive records, including the audit report. The Assessing Officer ...