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2014 (1) TMI 1131 - ITAT MUMBAIPenalty u/s 271(1)(b) - Held that:- The alleged notice was in fact in the name of Mafatlat individual not Mafatlal HUF (assessee) and on the date fixed reply was filed in that case - It was further submitted that the assessee was still ready to provide the required details - It is not a case where the assessee without any reasonable cause had failed to comply with the notices issued under section 143(2) and 142(1) of the Income Tax Act - The revenue has not placed any copy of the alleged notice which was issued and served in the name of the assessee - The assessee had given the reply that though no notice under sections 143(2) and 142(1) of the Income Tax Act was served upon it, yet it was ready to submit the required details - But in this case, the AO simply rejected the explanation given by the assessee without rebutting the same - The ld. CIT(A) also upheld the levy of penalty in a mechanical manner without correctly appreciating the facts - The assessee in the subsequent proceedings produced the relevant material in response to the fresh notices issued by the AO under section 143(2) and 142(1) and the assessment proceedings were completed - It is not the case where the assessment proceedings were completed ex-parte or where the assessee had not produced the relevant material/evidences during the assessment proceedings - Decided in favour of assessee.
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