https://www.taxtmi.com/caselaws?id=189412 The ITAT allowed the appeals, directing the deletion of penalties under section 271(1)(b) of the Income Tax Act for assessment years 2012-13 & 2013-14. The ITAT emphasized the bonafide reasons for non-appearance due to time constraints in gathering voluminous information, holding that the explanations offered were reasonable. The A.O. was instructed to consider the reasons for non-appearance in light of the circumstances and to delete the penalties based on the bonafide nature of the explanations provided by the assessee. en-us Fri, 06 Jan 2017 00:00:00 +0530 Mon, 03 Apr 2017 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189412 The ITAT allowed the appeals, directing the deletion of penalties under section 271(1)(b) of the Income Tax Act for assessment years 2012-13 & 2013-14. The ITAT emphasized the bonafide reasons for non-appearance due to time constraints in gathering voluminous information, holding that the explanations offered were reasonable. The A.O. was instructed to consider the reasons for non-appearance in light of the circumstances and to delete the penalties based on the bonafide nature of the explanations provided by the assessee. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189412