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TMI Blog2025 (2) TMI 1080X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of Section 272A(1)(d) are "deterrent in nature" and not for the purpose of earning revenue. The remedy available with the AO lies in framing of best judgment assessment under the provisions of Section 144 of the Act, as he did in the present and not to impose multiple penalties under Section 272A(1)(d) of the Act, again and again. Accordingly, levy of penalty is directed to be restr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 09.2024 passed for A.Y. 2017-18. 2. The assessee has taken the following grounds of appeal:- "(1) The Ld. CIT(A) has erred in law and facts in upholding the penalty of Rs. 30,000/- u/s. 272A(1)(d) without properly appreciating the facts of the assessee. (2) The Ld. CIT(A) has erred in law and facts in not considering the written submission dated 01.03.2023 in as much as that the submission ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iance to the following notices issued by the Assessing Officer: Sl. No. Notice Number of notice Date of notice 1 142(1) TBS/AST/F/142(1)/2019-20/1018714239(1) 09.10.2019 2 142(1) ITBA/AST/F/142(1)/2019-20/1017439529(1) 19.08.2019 3 143(2) TBS/AST/S/143(2)/2018-19/1011295286(2) 14.08.2018 4. In appeal, Ld. CIT(A) confirmed the penalty of Rs. 30,000/- @ Rs. 10,000/- for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd Gurdaspur 2023 (6) TMI 479 - ITAT Amritsar, while passing the order the ITAT made the following observations: "The remedy available with the Assessing Officer lies in framing of best judgment assessment under the provisions of Section 144 of the Act, as he did and not to impose multiple penalties under section 272A(1)(d) of the Act again and again. We therefore restrict the penalty levied und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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