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2016 (10) TMI 1260 - AT - Income TaxLevy of penalty u/s 271(1)(b) - alleged failure to comply with the notice issues under section 142(1) - delay on the part of the assessee in complying with the information called for finalizing the assessment - HELD THAT:- The assessments for all the captioned assessment years have been completed under section 143(3) r.w.s.153A of the Act and, therefore, the initial non-compliance with the notice issued under section 142(1) of the Act can be understood to be made-up subsequently and, therefore, the levy of penalty under section 271(1)(b) of the Act is not justified. See AKHIL BHARTIYA PRATHMIK SHIKSHAK SANGH BHAWAN TRUST. VERSUS ASSISTANT DIRECTOR OF INCOME-TAX. [2007 (8) TMI 386 - ITAT DELHI-G] - Decided in favour of assessee.
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