https://www.taxtmi.com/caselaws?id=451033 ITAT Jaipur deleted penalty u/s 271(1)(c) imposed on non-resident assessee for not filing return despite having taxable interest income. AO erroneously claimed assessee failed to reply to penalty notice, but records showed timely response filed on income tax portal. Assessee, employed in India before departure, had parked savings in FDs and mutual funds. Due to bona fide ignorance and belief that TDS deduction exempted return filing requirement, penalty was unjustified. ITAT found reasonable cause existed for non-filing, allowing assessee's appeal and reversing CIT(A) order. en-us Tue, 13 Feb 2024 00:00:00 +0530 Mon, 18 Mar 2024 09:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451033 ITAT Jaipur deleted penalty u/s 271(1)(c) imposed on non-resident assessee for not filing return despite having taxable interest income. AO erroneously claimed assessee failed to reply to penalty notice, but records showed timely response filed on income tax portal. Assessee, employed in India before departure, had parked savings in FDs and mutual funds. Due to bona fide ignorance and belief that TDS deduction exempted return filing requirement, penalty was unjustified. ITAT found reasonable cause existed for non-filing, allowing assessee's appeal and reversing CIT(A) order. Case-Laws Income Tax Tue, 13 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451033