https://www.taxtmi.com/caselaws?id=330227 The Tribunal dismissed appeals challenging penalties under section 271(1)(b) for non-compliance with notices for Assessment Year 2011-12. The consolidated appeals by six assessees were rejected as penalties were imposed before assessments were finalized, emphasizing the necessity of adhering to statutory obligations and the lack of reasonable cause for non-compliance. Despite arguments regarding assessment delays and waiver in certain cases, the penalties were upheld due to the seriousness of survey proceedings and the failure to provide justifiable reasons for non-compliance. en-us Mon, 11 Jul 2016 00:00:00 +0530 Wed, 20 Jul 2016 13:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330227 The Tribunal dismissed appeals challenging penalties under section 271(1)(b) for non-compliance with notices for Assessment Year 2011-12. The consolidated appeals by six assessees were rejected as penalties were imposed before assessments were finalized, emphasizing the necessity of adhering to statutory obligations and the lack of reasonable cause for non-compliance. Despite arguments regarding assessment delays and waiver in certain cases, the penalties were upheld due to the seriousness of survey proceedings and the failure to provide justifiable reasons for non-compliance. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330227