Tax Penalty Overturned: Tribunal Finds No Contumacious Conduct in Compliance Case, Citing Supreme Court Precedent.

Tax Penalty Overturned: Tribunal Finds No Contumacious Conduct in Compliance Case, Citing Supreme Court Precedent. https://www.taxtmi.com/highlights?id=77385 Penalty u/s 271(1)(b) - non-compliance of notice issued u/s 142(1) - Referring to the precedent set by the Supreme Court in Hindustan Steel Ltd. vs. State of Orissa, the Tribunal emphasized that penalties should not be levied if the conduct of the assessee is not contumacious. In this case, the Tribunal found no evidence of contumacious behavior on the part of the appellant. en-us Mon, 13 May 2024 15:58:12 +0530 Mon, 13 May 2024 18:19:43 +0530 TaxTMI RSS Generator Tax Penalty Overturned: Tribunal Finds No Contumacious Conduct in Compliance Case, Citing Supreme Court Precedent. https://www.taxtmi.com/highlights?id=77385 Penalty u/s 271(1)(b) - non-compliance of notice issued u/s 142(1) - Referring to the precedent set by the Supreme Court in Hindustan Steel Ltd. vs. State of Orissa, the Tribunal emphasized that penalties should not be levied if the conduct of the assessee is not contumacious. In this case, the Tribunal found no evidence of contumacious behavior on the part of the appellant. Highlights Income Tax Mon, 13 May 2024 15:58:12 +0530 https://www.taxtmi.com/highlights?id=77385