ITAT Mumbai Sets Aside Ex-Parte Penalty, Orders Fresh Hearing of 271(1)(b) Appeal

Hirabai & Hormusji Jiwanivakil Model School Trust Vs ITO (Exemption) (ITAT Mumbai) Ex Parte Dismissal Set Aside – Tribunal Sends 271(1)(b)Penalty Case Back to CIT(A)- Assessment Pending, Penalty Appeal Must Be Reheard – ITAT Rules in Favour of Trust Assessee, a charitable trust running a school, filed NIL return for AY 2016-17. Its case was selected for scrutiny, but since it did not comply with several notices u/s 143(2) & 142(1), the assessment was completed u/s 144. Consequent penalty proceedings u/s 271(1)(b) were initiated and penalty of ₹40,000 was levied for four instances...