https://www.taxtmi.com/caselaws?id=424398 The Appellate Tribunal partially allowed the Assessee's appeal by condoning the delay in filing the appeal due to valid reasons provided by the Assessee. The Tribunal restricted the penalty under section 271(1)(b) of the Income Tax Act to the first default of non-compliance, following a precedent set by the Delhi Tribunal. As a result, the penalty imposed was reduced from Rs. 30,000/- to Rs. 10,000/-, leading to the Assessee's appeal being partly allowed. en-us Fri, 24 Jun 2022 00:00:00 +0530 Wed, 29 Jun 2022 09:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424398 The Appellate Tribunal partially allowed the Assessee's appeal by condoning the delay in filing the appeal due to valid reasons provided by the Assessee. The Tribunal restricted the penalty under section 271(1)(b) of the Income Tax Act to the first default of non-compliance, following a precedent set by the Delhi Tribunal. As a result, the penalty imposed was reduced from Rs. 30,000/- to Rs. 10,000/-, leading to the Assessee's appeal being partly allowed. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424398