https://www.taxtmi.com/caselaws?id=341138 The Tribunal partially allowed the assessee's appeal, reducing the penalty under Section 271(1)(b) of the Income Tax Act to Rs. 20,000 from the initial Rs. 60,000 imposed by the Assessing Officer. The decision was based on the principle that the penalty should be restricted to the first default and not imposed repeatedly for the same non-compliance. en-us Wed, 29 Mar 2017 00:00:00 +0530 Sat, 01 Apr 2017 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341138 The Tribunal partially allowed the assessee's appeal, reducing the penalty under Section 271(1)(b) of the Income Tax Act to Rs. 20,000 from the initial Rs. 60,000 imposed by the Assessing Officer. The decision was based on the principle that the penalty should be restricted to the first default and not imposed repeatedly for the same non-compliance. Case-Laws Income Tax Wed, 29 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341138