https://www.taxtmi.com/caselaws?id=217872 The Appellate Tribunal allowed all three appeals filed by the Assessee, deleting the penalty imposed under section 271(1)(b) of the Income Tax Act for non-compliance with notices issued for the assessment year 2003-04. The Tribunal found that the Assessee's conduct was not contumacious to justify the penalty imposition, following the legal precedent that penalties should be based on deliberate defiance of the law or conscious disregard of obligations. The penalty of Rs. 10,000/- for each instance of non-compliance was deleted based on these considerations. en-us Fri, 12 Oct 2012 00:00:00 +0530 Thu, 25 Oct 2012 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217872 The Appellate Tribunal allowed all three appeals filed by the Assessee, deleting the penalty imposed under section 271(1)(b) of the Income Tax Act for non-compliance with notices issued for the assessment year 2003-04. The Tribunal found that the Assessee's conduct was not contumacious to justify the penalty imposition, following the legal precedent that penalties should be based on deliberate defiance of the law or conscious disregard of obligations. The penalty of Rs. 10,000/- for each instance of non-compliance was deleted based on these considerations. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217872