Penalty u/s 271(1)(b) of Income Tax Act: Imposed Only for Deliberate Defiance or Dishonest Conduct.

Penalty u/s 271(1)(b) of the Act – penalty will not ordinarily be imposed unless the party obliged either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligation - AT .....

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