Section 272A(1)(d) Penalty Unsustainable When Scrutiny Assessment Accepted Returned Income

Radhey Shyam Suthar Vs DCIT (ITAT Jodhpur) Summary: In the Jodhpur Bench of the Income Tax Appellate Tribunal (ITAT) held that penalty under Section 272A(1)(d) for non-compliance with notices issued under Section 142(1) cannot survive where the assessee subsequently furnishes complete details and the assessment is ultimately completed under Section 143(3). The assessees had initially failed to respond to certain statutory notices due to heavy workload relating to audits, return filing, and pending assessments, but later submitted detailed replies with supporting documents, which were accepted ...