https://www.taxtmi.com/caselaws?id=392530 The appeal challenged the penalty imposed under section 271(1)(b) of the I.T. Act for the assessment year 2010-11 due to non-compliance with notices under section 142(1). The Tribunal reduced the penalty from Rs. 40,000 to Rs. 10,000, considering the repeated notices seeking the same information as constituting one default. The assessee's explanation of non-compliance due to a job transfer was deemed insufficient as most notices were issued before the transfer. The penalty was reduced to Rs. 10,000 for a single default, emphasizing the importance of timely compliance with tax notices and reasonable causes in penalty imposition. en-us Thu, 09 Jan 2020 00:00:00 +0530 Sat, 22 Feb 2020 16:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392530 The appeal challenged the penalty imposed under section 271(1)(b) of the I.T. Act for the assessment year 2010-11 due to non-compliance with notices under section 142(1). The Tribunal reduced the penalty from Rs. 40,000 to Rs. 10,000, considering the repeated notices seeking the same information as constituting one default. The assessee's explanation of non-compliance due to a job transfer was deemed insufficient as most notices were issued before the transfer. The penalty was reduced to Rs. 10,000 for a single default, emphasizing the importance of timely compliance with tax notices and reasonable causes in penalty imposition. Case-Laws Income Tax Thu, 09 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392530