Tribunal Annuls Rs. 30,000 Penalty for Non-Compliance, Accepts Internal Issues as Reasonable Cause.

Tribunal Annuls Rs. 30,000 Penalty for Non-Compliance, Accepts Internal Issues as Reasonable Cause. https://www.taxtmi.com/highlights?id=74767 Penalty levied u/s 272(1)(d) - non-compliance of notice issued u/s 142(1) - internal problems in the organization - Tribunal found the appellant's explanation acceptable under section 273B, which allows for a reasonable cause for non-compliance. Consequently, the penalty of Rs. 30,000 was annulled. en-us Fri, 09 Feb 2024 07:21:16 +0530 Fri, 09 Feb 2024 07:21:16 +0530 TaxTMI RSS Generator Tribunal Annuls Rs. 30,000 Penalty for Non-Compliance, Accepts Internal Issues as Reasonable Cause. https://www.taxtmi.com/highlights?id=74767 Penalty levied u/s 272(1)(d) - non-compliance of notice issued u/s 142(1) - internal problems in the organization - Tribunal found the appellant's explanation acceptable under section 273B, which allows for a reasonable cause for non-compliance. Consequently, the penalty of Rs. 30,000 was annulled. Highlights Income Tax Fri, 09 Feb 2024 07:21:16 +0530 https://www.taxtmi.com/highlights?id=74767