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2012 (6) TMI 10 - AT - Income TaxPenalty under section 271(1)(b) of the Income-tax Act - fault for non-compliance of hearing - assessee stated that notice dated had been sent to the old address and therefore, not received - non-receipt of notice was the reason for the assessees' non-appearance – Held that:- Penalty will not also be imposed merely because it is lawful to do so. Even if a minimum penalty is prescribed, the authority competent to impose the penalty will be justified in refusing to impose penalty, when there is a technical or venial breach of the provisions of the Act, or where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute". orders of the authorities below set aside and delete the levy of penalty. appeals filed by the assessees are allowed.
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