https://www.taxtmi.com/caselaws?id=193009 The Tribunal partly allowed the appeals, modifying the penalty imposition by restricting it to the first default of the assessee in not complying with the notice u/s 143(2), reducing the penalty amount significantly. The decision was based on the principle that penalties should be reasonable and not imposed repeatedly for the same non-compliance, aligning with the interpretation of penalty provisions under Section 271(1)(b) of the Income-tax Act, 1961. en-us Mon, 08 Feb 2016 00:00:00 +0530 Sat, 08 Jul 2017 07:40:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193009 The Tribunal partly allowed the appeals, modifying the penalty imposition by restricting it to the first default of the assessee in not complying with the notice u/s 143(2), reducing the penalty amount significantly. The decision was based on the principle that penalties should be reasonable and not imposed repeatedly for the same non-compliance, aligning with the interpretation of penalty provisions under Section 271(1)(b) of the Income-tax Act, 1961. Case-Laws Income Tax Mon, 08 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193009