Section 271D Penalty proceeding is independent of assessment proceedings

Dr. Sankaran Sundar Vs ITO (ITAT Bangalore) The penalty imposed u/s 271D of the I.T.Act is independent of assessment proceedings completed u/s 143(3) of the I.T.Act. Even without completion of assessment u/s 143(3) of the I.T.Act, penalty u/s 271D of the I.T.Act can be imposed for violation of provisions of section 269SS of the I.T.Act. In other words, the penalty proceedings u/s 271D of the I.T.Act is unconnected with the assessment order passed u/s 143(3) of the I.T.Act. The assessee in the instant case has only settled the matter under VSVS 2020 insofar as the issues that are raised in the ...