Penalty u/s 272A(1)(d)  Income Tax Act shall not levied if Reasonable Cause for Non-Compliance of Statutory Notices: ITAT [Read Order]

Penalty - Income Tax Act - Income Tax - Reasonable Cause - Non-Compliance of Statutory Notices - Non-Compliance - Statutory Notices - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench ruled that penalty under Section 272(1)(d) of Income Tax Act, 1961 should not be levied if the assessee has reasonable cause for non-compliance of statutory notices. Maqsood Ali, the taxpayer filed its return of income under the head “income from salaries”. Assessee case was selected for scrutiny by…

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