https://www.taxtmi.com/caselaws?id=331072 The Tribunal allowed the appeals, directing the Assessing Officer to delete the penalty imposed under section 271(1)(b) of the Income Tax Act, 1961. The penalty was deemed unfair, factually incorrect, unjustified, and contrary to law and facts. The Tribunal highlighted the inadequate time provided for compliance with the notice u/s 142(1), emphasizing a violation of the principle of natural justice. The decision underscored the importance of providing adequate time for compliance and upholding principles of natural justice in such matters. en-us Mon, 20 Jun 2016 00:00:00 +0530 Fri, 12 Aug 2016 13:20:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331072 The Tribunal allowed the appeals, directing the Assessing Officer to delete the penalty imposed under section 271(1)(b) of the Income Tax Act, 1961. The penalty was deemed unfair, factually incorrect, unjustified, and contrary to law and facts. The Tribunal highlighted the inadequate time provided for compliance with the notice u/s 142(1), emphasizing a violation of the principle of natural justice. The decision underscored the importance of providing adequate time for compliance and upholding principles of natural justice in such matters. Case-Laws Income Tax Mon, 20 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331072