Credit Card Misuse: No Section 271(1)(b) Penalty if reasonable explanation given

Abdulmannan Mohammedkasad Bastawala Vs ITO (ITAT Ahmedabad)

The case of Abdulmannan Mohammedkasad Bastawala vs. Income Tax Officer (ITO) involved appeals filed by the assessee challenging the penalties imposed under Section 271(1)(b) of the Income Tax Act for the assessment years (A.Ys.) 2012-13 and 2013-14. The Assessing Officer (AO) h

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