ITAT Reduces Section 271(1)(b) Penalty by treating Multiple Notice Defaults as One

Naga Malleswari Mannava Vs ITO (ITAT Visakhapatnam) ITAT Holds Section 271(1)(b) Proceedings Independent of Section 148 Reassessment Challenge; No Relief From Penalty Without Proving Reasonable Cause for Non-Compliance Summary: The ITAT Visakhapatnam partly allowed the assessee’s appeal against penalty levied under Section 271(1)(b) of the Income Tax Act for non-compliance with notices issued under Section 142(1). The Assessing Officer had imposed a penalty of Rs.30,000 after treating non-compliance with three separate notices as three independent defaults. The CIT(A) confirmed the penalty...