https://www.taxtmi.com/caselaws?id=268881 The ITAT ruled in favor of the appellant, finding that the penalty under section 272A(1)(c) of the Income Tax Act was not justified. The delay in producing account books was deemed a technical breach rather than intentional avoidance, as the books were eventually submitted during assessment proceedings. The ITAT emphasized the importance of cooperation and timely submission of documents to avoid penalties, ultimately directing the deletion of the imposed penalty. en-us Wed, 04 Nov 2015 00:00:00 +0530 Fri, 04 Dec 2015 15:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268881 The ITAT ruled in favor of the appellant, finding that the penalty under section 272A(1)(c) of the Income Tax Act was not justified. The delay in producing account books was deemed a technical breach rather than intentional avoidance, as the books were eventually submitted during assessment proceedings. The ITAT emphasized the importance of cooperation and timely submission of documents to avoid penalties, ultimately directing the deletion of the imposed penalty. Case-Laws Income Tax Wed, 04 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268881