https://www.taxtmi.com/caselaws?id=405975 The Tribunal allowed the appeals filed by the assessee, setting aside the penalties imposed under section 271(1)(b) for non-compliance with notices. Emphasizing the completion of assessment under section 143(3) and relevant precedents, the Tribunal held that penalties should not be levied in such circumstances. It found the assessee's eventual compliance satisfactory, leading to the cancellation of penalties for all relevant assessment years. The order directed the Assessing Officer to cancel the penalties, with the decision pronounced in open court on 31/03/2021. en-us Wed, 31 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405975 The Tribunal allowed the appeals filed by the assessee, setting aside the penalties imposed under section 271(1)(b) for non-compliance with notices. Emphasizing the completion of assessment under section 143(3) and relevant precedents, the Tribunal held that penalties should not be levied in such circumstances. It found the assessee's eventual compliance satisfactory, leading to the cancellation of penalties for all relevant assessment years. The order directed the Assessing Officer to cancel the penalties, with the decision pronounced in open court on 31/03/2021. Case-Laws Income Tax Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405975