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 h

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