Compliance with Statutory Notice u/s 142(1): ITAT allows Penalty Exemption u/s 272(1) [Read Order]

By Fidha Lulu K G - On May 19, 2023 10:15 am - 2 mins read

Compliance with Statutory Notice - Statutory Notice - ITAT allows Penalty Exemption - ITAT - Penalty Exemption - Penalty - taxscan

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently allowed the exemption under Section 272(1) due to compliance with the statutory notice under Section 142 (1) of Income Tax Act 1961. The appeal was filed by assessee, Agrasar Education Ltd against the order of assessment passed under Section 272A(1)(d) of the Income…

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