https://www.taxtmi.com/caselaws?id=792004 Penalty under section 271(1)(b) of the Income-tax Act was found unsustainable where the assessment was ultimately completed on merits through a speaking order and the assessee had furnished the required details and evidence during the proceedings. The Tribunal noted that the case was not completed as a best judgment assessment under section 144 and that the assessment order showed consideration of the material produced, with no demonstrated prejudice to the Revenue. Applying coordinate bench decisions, it treated the earlier non-compliance as a procedural default that did not justify penal action once subsequent compliance was accepted. The penalty was deleted in full. en-us Mon, 18 May 2026 00:00:00 +0530 Thu, 21 May 2026 08:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792004 Penalty under section 271(1)(b) of the Income-tax Act was found unsustainable where the assessment was ultimately completed on merits through a speaking order and the assessee had furnished the required details and evidence during the proceedings. The Tribunal noted that the case was not completed as a best judgment assessment under section 144 and that the assessment order showed consideration of the material produced, with no demonstrated prejudice to the Revenue. Applying coordinate bench decisions, it treated the earlier non-compliance as a procedural default that did not justify penal action once subsequent compliance was accepted. The penalty was deleted in full. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792004