https://www.taxtmi.com/caselaws?id=242580 The Tribunal canceled the penalty of Rs.10,000 imposed under section 271(1)(b) of the Income-tax Act, as the assessee's lack of awareness due to non-receipt of notices and unknown whereabouts constituted a reasonable cause for non-compliance with the notice u/s 142(1). The Tribunal found that the returned speed post notices indicated the assessee was not residing at the address to which the notice was affixed, leading to the conclusion that it was not appropriate to levy the penalty. en-us Thu, 09 Jan 2014 00:00:00 +0530 Tue, 14 Jan 2014 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242580 The Tribunal canceled the penalty of Rs.10,000 imposed under section 271(1)(b) of the Income-tax Act, as the assessee's lack of awareness due to non-receipt of notices and unknown whereabouts constituted a reasonable cause for non-compliance with the notice u/s 142(1). The Tribunal found that the returned speed post notices indicated the assessee was not residing at the address to which the notice was affixed, leading to the conclusion that it was not appropriate to levy the penalty. Case-Laws Income Tax Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242580