https://www.taxtmi.com/caselaws?id=393566 The Tribunal canceled the penalty imposed under Section 271(1)(b) of the Income-tax Act, citing that assessments completed under Section 143(3) should not attract penalties. The appellant's argument that non-compliance was due to reasonable cause was partially accepted, emphasizing subsequent compliance in assessment proceedings. The claim of not receiving the show-cause notice under Section 274 r.w.s. 271 was rejected. Consequently, the penalties for the assessment years 2005-06, 2010-11, and 2012-13 were canceled, highlighting the importance of subsequent compliance in assessment proceedings to negate penalties. en-us Tue, 07 Jan 2020 00:00:00 +0530 Thu, 19 Mar 2020 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393566 The Tribunal canceled the penalty imposed under Section 271(1)(b) of the Income-tax Act, citing that assessments completed under Section 143(3) should not attract penalties. The appellant's argument that non-compliance was due to reasonable cause was partially accepted, emphasizing subsequent compliance in assessment proceedings. The claim of not receiving the show-cause notice under Section 274 r.w.s. 271 was rejected. Consequently, the penalties for the assessment years 2005-06, 2010-11, and 2012-13 were canceled, highlighting the importance of subsequent compliance in assessment proceedings to negate penalties. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393566