https://www.taxtmi.com/caselaws?id=779002 ITAT, Chennai (AT) deleted penalties under ss.271(1)(b) and 272A(1)(d), holding non-compliance with s.142(1) notice was not deliberate as taxpayers sought settlement under s.245D(1)/s.254D and acted on legal advice. The Tribunal noted the Settlement Commission initially treated the applications invalid, but the HC quashed that decision and remitted the matters to the Interim Board for Settlement. Subsequent assessment orders under ss.153A/153C were quashed by the HC, and with the applications restored, the ITAT held penalties were not warranted and allowed the appeals. en-us Thu, 18 Sep 2025 00:00:00 +0530 Fri, 26 Sep 2025 08:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779002 ITAT, Chennai (AT) deleted penalties under ss.271(1)(b) and 272A(1)(d), holding non-compliance with s.142(1) notice was not deliberate as taxpayers sought settlement under s.245D(1)/s.254D and acted on legal advice. The Tribunal noted the Settlement Commission initially treated the applications invalid, but the HC quashed that decision and remitted the matters to the Interim Board for Settlement. Subsequent assessment orders under ss.153A/153C were quashed by the HC, and with the applications restored, the ITAT held penalties were not warranted and allowed the appeals. Case-Laws Income Tax Thu, 18 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779002