Ill-Health of Wife “Reasonable Cause” for Non-Compliance u/s 44B: ITAT deletes Income Tax Penalty [Read Order]

Ill-Health of Wife - Reasonable Cause - Non-Compliance us 44B - ITAT - Income Tax Penalty - Taxscan

In a ruling granting relief to the assessee, the Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the ill-health of the wife would constitute “reasonable cause” for the non-compliance of the provisions of section 44B of the Income Tax Act, 1961. Accordingly, the ITAT has deleted the penalty imposed under section…

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