Penalty u/s 272A(1)(c) can be levied for non-compliance of Section 131(IA)

Young Indian Vs ADIT (ITAT Delhi)

It is the submission of the ld. counsel for the assessee that the provisions of section 131(1) and provisions of section 131(1A) are different and since the provisions of section 272A(1)(c) prescribe levy of penalty for non-compliance to provisions of section 131(1) only and since there is no provision in the Income Tax Act for levy of penalty for non-compliance under the provisions of section 131(1A) of the I.T. Act, therefore, the ld. CIT(A) was no

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