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2015 (9) TMI 1653 - AT - Income TaxPenalty u/s 271(1)(b) - Assessee's failure to comply with the relevant notices issued by the AO u/s 142(1) - HELD THAT:- The order dated 29.11.2012 passed by the CIT(A) speaks that the assessee replied to the notice vide letter dated 7.9.2011 and subsequently, in compliance with the show cause notice u/s 271(1)(b), the assessee also sought the adjournment on the ground of fact that the assessee’s representative would be busy in the month of September on account of tax audit. The tax audit and other documental work would be completed. In the said circumstances, the assessee complied with each notice issued by the AO. Subsequently, the assessment was completed vide order dated 26.12.2011 which speaks that the assessee attended the hearing from time to time and the case was also discussed with them. The situation speaks that the assessee filed the details before the AO and thereafter the assessment order dated 26.11.2011 has been finalized. This can be considered as sufficient compliance and the default committed, if any, earlier has been ignored by the AO. Therefore, in the said circumstances, the penalty levied u/s 271(1)(b) is not liable to be leviable - also reasonable cause on account of busy in the month of September on account of tax audit is apparent on record. Penalty deleted - Decided in favour of assessee.
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