Penalty Upheld for Non-Compliance with Tax Notices u/s 271(1)(b); Highlights Importance of Responding to AO Notices.

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....Penalty levied u/s 271(1)(b) - undisclosed investment u/s 69A - ex parte assessment order - We have no hesitation in confirming the penalty levied under section 271(1)(b) for non-compliance of notices before the AO. - AT....