https://www.taxtmi.com/caselaws?id=192885 The ITAT quashed the penalty orders imposed under section 271(1)(b) for the Assessment Years 2007-08 to 2010-11, emphasizing the lack of deliberate defiance by the assessee and insufficient reasoning in the penalty order. The ITAT stressed the importance of fair opportunities and compliance with statutory obligations, leading to the cancellation of penalties in an open court session on 6th February 2014. en-us Thu, 06 Feb 2014 00:00:00 +0530 Thu, 29 Jun 2017 12:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192885 The ITAT quashed the penalty orders imposed under section 271(1)(b) for the Assessment Years 2007-08 to 2010-11, emphasizing the lack of deliberate defiance by the assessee and insufficient reasoning in the penalty order. The ITAT stressed the importance of fair opportunities and compliance with statutory obligations, leading to the cancellation of penalties in an open court session on 6th February 2014. Case-Laws Income Tax Thu, 06 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192885