https://www.taxtmi.com/caselaws?id=404677 Penalty under section 271(1)(b) was held not leviable where the assessee ultimately complied with notices under section 142(1), furnished replies and confirmations, and the Assessing Officer completed the assessment after considering those submissions. The same explanation was later accepted in quantum proceedings and the related addition was deleted, showing that the alleged default was not treated as warranting penalty. Applying section 273B, the assessee's conduct and acceptable explanation brought the matter within the statutory protection against penalty, and the penalty order was deleted. en-us Thu, 25 Feb 2021 00:00:00 +0530 Mon, 01 Mar 2021 10:23:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404677 Penalty under section 271(1)(b) was held not leviable where the assessee ultimately complied with notices under section 142(1), furnished replies and confirmations, and the Assessing Officer completed the assessment after considering those submissions. The same explanation was later accepted in quantum proceedings and the related addition was deleted, showing that the alleged default was not treated as warranting penalty. Applying section 273B, the assessee's conduct and acceptable explanation brought the matter within the statutory protection against penalty, and the penalty order was deleted. Case-Laws Income Tax Thu, 25 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404677