https://www.taxtmi.com/caselaws?id=354373 The penalties imposed under section 271(1)(b) of the IT Act, 1961, amounting to Rs. 20,000 each, were found unsustainable and were deleted by the ITAT. The ITAT considered the reasonable cause for non-compliance, including the detention of a key person and the burden of managing multiple assessments. Citing earlier decisions where penalties were canceled in similar circumstances, the ITAT ruled in favor of the assessees, noting that the non-compliance was technical and venial. As a result, the penalties were canceled, and the appeals of the assessees were allowed. en-us Mon, 22 Jan 2018 00:00:00 +0530 Wed, 24 Jan 2018 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354373 The penalties imposed under section 271(1)(b) of the IT Act, 1961, amounting to Rs. 20,000 each, were found unsustainable and were deleted by the ITAT. The ITAT considered the reasonable cause for non-compliance, including the detention of a key person and the burden of managing multiple assessments. Citing earlier decisions where penalties were canceled in similar circumstances, the ITAT ruled in favor of the assessees, noting that the non-compliance was technical and venial. As a result, the penalties were canceled, and the appeals of the assessees were allowed. Case-Laws Income Tax Mon, 22 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354373