05-19-2013, 01:11 PM
You can pray for penalty u/s 20(1). But, don't expect the same from the present ICs, unless a strong case for refusal/deemed refusal by PIO.
Penalty is a fixed rate, i.e Rupees Two hundred and fifty each day. IC can not increase or decrease d amount/day & maximum penalty can be Rupees 25,000/-....