Section 271(1)(b) Penalty Not Applicable: Assessee's Compliance and Explanation Accepted u/s 273B and Section 142(1) Notice.

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....Penalty u/s. 271(1)(b) - default and non-compliance to the notice issued u/s. 142(1) - in the facts and circumstances of the case and in view of Section 273B of the Act when the assessee has finally complied with the notice issued by the Assessing Officer the penalty is not imposable as the explanation filed by the assessee was finally found to be correct and accepted in the quantum appeal. - AT....