Allowing the appeal of the assessee ,the Tribunal held that ; assessee’s failure to pay self-assessment tax within stipulated period, in view of fact that amended section 140A(3) with effect from 1-4-1989 levy of penalty was held to be not justified . ( AY. 2009 -10)( AY.2009-10)
Heddle Knowledge (P.) Ltd. v. ITO (2018) 169 ITD 304/ 169 DTR 396/ 195 TTJ 536 (Mum) (Trib.)
S. 140A : Self assessment -Failure to pay self assessment tax , penalty cannot be levied [ S. 221 ]