Section 272A(1)(d) Penalty Deleted as Assessment Completed U/s. 143(3) Despite Non-Compliance

Amish Haresh Kumar Parikh Vs ACIT (ITAT Mumbai) The appeal was filed by the assessee before the Income Tax Appellate Tribunal, Mumbai Bench, challenging the order passed by the Commissioner of Income Tax (Appeals), NFAC, dated 02.01.2025 for Assessment Year 2017–18. The grounds raised by the assessee included that the penalty levied under section 272A(1)(d) was time-barred, that proper opportunity of being heard was not provided, and that penalty could not be levied when the assessment order was passed under section 143(3) of the Income Tax Act. From the facts of the case, it was noted that ...