https://www.taxtmi.com/caselaws?id=350913 The ITAT allowed the appeals of three assessees challenging penalties imposed under section 271(1)(b) of the Income Tax Act for non-compliance with assessment proceedings. The ITAT held that the detention of a key person and engagement in court proceedings constituted a reasonable cause for non-compliance, as per section 273B of the Act. Consequently, the penalties were deleted for all assessment years in question, and the appeals were allowed on 31st August 2017. en-us Thu, 31 Aug 2017 00:00:00 +0530 Wed, 15 Nov 2017 09:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350913 The ITAT allowed the appeals of three assessees challenging penalties imposed under section 271(1)(b) of the Income Tax Act for non-compliance with assessment proceedings. The ITAT held that the detention of a key person and engagement in court proceedings constituted a reasonable cause for non-compliance, as per section 273B of the Act. Consequently, the penalties were deleted for all assessment years in question, and the appeals were allowed on 31st August 2017. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350913