Penalty proceedings u/s. 271(1)(b) - non-compliance with the 3 ...

Penalties for Delayed Compliance Overturned: Tribunal Accepts Genuine Constraints, Cites Reasonable Cause for Delays.

April 27, 2024

Case Laws Income Tax AT

Penalty proceedings u/s. 271(1)(b) - non-compliance with the 3 notices u/s. 142(1) - Delay in late response as per date mentioned in notice - The Tribunal found merit in the assessee's explanations for the delays, considering factors such as difficulties in data retrieval, operational challenges, and lack of technical expertise. It observed that the delays were not intentional but were due to genuine constraints faced by the assessee. - The ITAT noted that while there were delays in responding to the notices, the assessee eventually provided all the required details and participated in the assessment proceedings. - The ITAT held that there was reasonable cause for the delays in compliance and that the penalties were unjustified.

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Penalty proceedings u/s. 271(1)(b) - non-compliance with the 3 ...

Penalties for Delayed Compliance Overturned: Tribunal Accepts Genuine Constraints, Cites Reasonable Cause for Delays.

April 27, 2024

Case Laws Income Tax AT

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