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

Advertisement 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) conf...