https://www.taxtmi.com/caselaws?id=208077 The appellate tribunal revoked the penalty of Rs. 30,912 imposed under Sec. 271B for violating Sec. 44AB for A.Y. 2005-06. The tribunal found no deliberate defiance or conscious disregard by the assessee, emphasizing the need for a strong case of deliberate non-compliance to justify penalties for statutory obligations. The decision aligned with the principles in Hindustan Steel Ltd., highlighting that mere delay in filing does not automatically warrant penalties. The appeal was allowed in favor of the assessee due to the absence of deliberate non-compliance established by the Assessing Officer. en-us Thu, 28 Jan 2010 00:00:00 +0530 Wed, 04 Jan 2012 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208077 The appellate tribunal revoked the penalty of Rs. 30,912 imposed under Sec. 271B for violating Sec. 44AB for A.Y. 2005-06. The tribunal found no deliberate defiance or conscious disregard by the assessee, emphasizing the need for a strong case of deliberate non-compliance to justify penalties for statutory obligations. The decision aligned with the principles in Hindustan Steel Ltd., highlighting that mere delay in filing does not automatically warrant penalties. The appeal was allowed in favor of the assessee due to the absence of deliberate non-compliance established by the Assessing Officer. Case-Laws Income Tax Thu, 28 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208077