https://www.taxtmi.com/caselaws?id=304641 The Tribunal found that the penalty u/s.271(1)(b) of the Income Tax Act, 1961 was unjustified for the assessee for A.Y. 2014-15. Despite initial confusion and absence, the assessee later cooperated, providing required details. As per relevant case laws, when assessments are completed u/s.143(3) after furnishing details, penalty u/s.271(1)(b) cannot be imposed. The Tribunal directed the ld. AO to delete the penalty, allowing the assessee's appeal. en-us Tue, 14 Jun 2022 00:00:00 +0530 Tue, 11 Oct 2022 18:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304641 The Tribunal found that the penalty u/s.271(1)(b) of the Income Tax Act, 1961 was unjustified for the assessee for A.Y. 2014-15. Despite initial confusion and absence, the assessee later cooperated, providing required details. As per relevant case laws, when assessments are completed u/s.143(3) after furnishing details, penalty u/s.271(1)(b) cannot be imposed. The Tribunal directed the ld. AO to delete the penalty, allowing the assessee's appeal. Case-Laws Income Tax Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304641