https://www.taxtmi.com/caselaws?id=272817 The Tribunal allowed all the assessee's appeals, setting aside penalties imposed under section 271(1)(b) of the Income Tax Act, 1961. The decision was based on the principle that subsequent compliance in assessment proceedings after initial non-compliance with notice u/s 142(1) constituted good compliance, warranting the deletion of penalties. The Tribunal's ruling aligned with the Delhi Tribunal's precedent, emphasizing the significance of compliance during assessment proceedings and the subsequent nullification of earlier defaults. en-us Fri, 08 Jul 2016 00:00:00 +0530 Sat, 19 May 2018 08:04:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272817 The Tribunal allowed all the assessee's appeals, setting aside penalties imposed under section 271(1)(b) of the Income Tax Act, 1961. The decision was based on the principle that subsequent compliance in assessment proceedings after initial non-compliance with notice u/s 142(1) constituted good compliance, warranting the deletion of penalties. The Tribunal's ruling aligned with the Delhi Tribunal's precedent, emphasizing the significance of compliance during assessment proceedings and the subsequent nullification of earlier defaults. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272817