Imposition of penalty u/s. 271(1)(b) within time limit contemplated in section 275(1)(a) justified

Santosh Jain Vs ITO (ITAT Raipur) ITAT Raipur held that imposition of penalty u/s. 271(1)(b) of the Income Tax Act within the time period contemplated in clause (a) of sub-section (1) to Section 275, i.e six months from the end of the month in which appellate order was received is duly justified. Facts- The assessee who was engaged in manufacturing and trading of iron and steel items had carried out substantial business transactions during the year but had failed to file his income return, therefore the A.O. initiated proceedings u/s. 147 of the Act. Notice u/s. 148 was issued to the assessee....