https://www.taxtmi.com/caselaws?id=763126 ITAT Agra deleted penalty imposed u/s 271(1)(b) for non-compliance with notice u/s 142(1) during reassessment proceedings. The tribunal held that Covid-19 pandemic constituted reasonable cause for non-compliance, and department should have taken liberal view given extraordinary circumstances. The assessee's case was covered under Section 273B read with Section 271(1)(b), as penalty provision is subject to reasonable cause exception. Both AO and CIT(A) had erroneously confirmed the penalty despite valid justification. Appeal allowed in favor of assessee. en-us Wed, 11 Dec 2024 00:00:00 +0530 Fri, 13 Dec 2024 07:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763126 ITAT Agra deleted penalty imposed u/s 271(1)(b) for non-compliance with notice u/s 142(1) during reassessment proceedings. The tribunal held that Covid-19 pandemic constituted reasonable cause for non-compliance, and department should have taken liberal view given extraordinary circumstances. The assessee's case was covered under Section 273B read with Section 271(1)(b), as penalty provision is subject to reasonable cause exception. Both AO and CIT(A) had erroneously confirmed the penalty despite valid justification. Appeal allowed in favor of assessee. Case-Laws Income Tax Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763126