The Income Tax Appellate Tribunal deleted the penalty levied u/s 271(1)(b) for non-compliance with a...

The Income Tax Appellate Tribunal deleted the penalty levied u/s 271(1)(b) for non-compliance with a notice issued u/s 142(1) during reassessment proceedings. Considering the extraordinary circumstances of the Covid-19 pandemic, lockdowns, and the suffering caused, the Tribunal held that the department should have taken a liberal view in condoning the default. The assessee's non-compliance was covered u/s 273B, read with Section 271(1)(b), as Section 271(1)(b) is subject to Section 273B. The assessee's appeal was allowed, and the penalty was deleted. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X