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2018 (5) TMI 1086 - AT - Income TaxPenalty u/s 271(1)(b) - non-compliance with notices u/s 142(1) - proceedings u/s 153C initiated - Held that:- No search and seizure operation was conducted on the assessee and proceedings u/s 153C of the Act were initiated and the assessee filed the return in compliance with the notice u/s 153C of the Act and also furnished the reply to various queries raised by the Assessing Officer. The assessee was given very little time to furnish long list of requirements and there was reasonable cause on the part of the assessee for being unable to file the details on the given data in the notice. However, the assessee duly complied with the requirements on the subsequent dates because of which the assessment was completed u/s 153C r.w.s. 143(3) of the Act. Therefore both the lower authorities were not justified in levying and confirming the penalty u/s 271 (1) (b) of the Act at ₹ 10,000/- in each case. - Decided in favour of assessee.
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