https://www.taxtmi.com/caselaws?id=336295 The ITAT overturned penalties of Rs. 10,000 each imposed under section 271(1)(b) by the AO, upheld by the CIT(A), on the assessee for non-compliance with a notice under section 143(2) of the Income Tax Act. The ITAT found the penalties unwarranted, considering the circumstances and legal precedents, emphasizing the technical nature of the breach and reasonable cause for non-compliance. Ruling in favor of the assessee, the ITAT set aside the penalties, aligning with principles that penalties should not be levied for technical breaches, ultimately deleting the penalties imposed by the lower authorities. en-us Mon, 26 Sep 2016 00:00:00 +0530 Mon, 19 Dec 2016 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336295 The ITAT overturned penalties of Rs. 10,000 each imposed under section 271(1)(b) by the AO, upheld by the CIT(A), on the assessee for non-compliance with a notice under section 143(2) of the Income Tax Act. The ITAT found the penalties unwarranted, considering the circumstances and legal precedents, emphasizing the technical nature of the breach and reasonable cause for non-compliance. Ruling in favor of the assessee, the ITAT set aside the penalties, aligning with principles that penalties should not be levied for technical breaches, ultimately deleting the penalties imposed by the lower authorities. Case-Laws Income Tax Mon, 26 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336295