Penalty u/s 271(1)(b) Waived for Non-Willful Non-Compliance; Compliance During Assessment Considered Satisfactory.

Penalty u/s 271(1)(b) Waived for Non-Willful Non-Compliance; Compliance During Assessment Considered Satisfactory. https://www.taxtmi.com/highlights?id=55734 Penalty u/s 271(1)(b) - non-compliance to statutory notices - The order was passed under s. 143(3) and not under s. 144 of the Act. This means that subsequent compliance in the assessment proceedings was considered as good compliance and the defaults committed earlier were ignored by the AO. Therefore, in such circumstances, there could have been no reason to come to the conclusion that the default was willful. - AT en-us Thu, 03 Dec 2020 12:04:07 +0530 Thu, 03 Dec 2020 12:04:07 +0530 TaxTMI RSS Generator Penalty u/s 271(1)(b) Waived for Non-Willful Non-Compliance; Compliance During Assessment Considered Satisfactory. https://www.taxtmi.com/highlights?id=55734 Penalty u/s 271(1)(b) - non-compliance to statutory notices - The order was passed under s. 143(3) and not under s. 144 of the Act. This means that subsequent compliance in the assessment proceedings was considered as good compliance and the defaults committed earlier were ignored by the AO. Therefore, in such circumstances, there could have been no reason to come to the conclusion that the default was willful. - AT Highlights Income Tax Thu, 03 Dec 2020 12:04:07 +0530 https://www.taxtmi.com/highlights?id=55734