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2016 (1) TMI 1209 - AT - Income TaxLevy of penalty u/s 271(1)(b) - assessee was subjected to search u/s 132, consequently, the assessment proceedings u/s 153A was initiated - A.O. held that the assessee failed to appear on the date of hearing and also failed to seek adjournment - Held that:- We find force in the arguments of the assessee for the reason that the A.O. has given insufficient time to gather voluminous information for a period of seven years. We further observed that the assessment was finally completed u/s 143(3) r.w.s. 153A of the Act, after fully supplied with all material facts required for assessment proceedings. Hence, we are of the view that the initial failure becomes technical, which does not warrant levy of penalty u/s 271(1)(b) of the Act. Also a similar issue has been considered by this bench, in assessee’s husband case [2016 (10) TMI 552 - ITAT VISAKHAPATNAM]wherein the coordinate bench of this Tribunal, under similar set of facts has held that the explanations offered by the assessee that she could not attend as on the date of hearing because of insufficient time given by the A.O. to collect voluminous information appears to be reasonable and bonafide - Decided in favour of assessee.
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