Penalty u/s 271(1)(b) can’t be imposed if Assessee Proves that there was a Reasonable Cause for Non-Compliance of Notice: ITAT [Read Order]

Penalty - Assessee - Proves - Reasonable Cause - Non-Compliance - Notice - ITAT - taxscan

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty under Section 271(1)(b) of the Income Tax Act, 1961 cannot be imposed if the assessee proves that there was a reasonable cause for the non-compliance of notices. The assessment was completed under Section 144 read with Section 147 of the Income…

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