No penalty u/s 271B if appellant had bonafide belief

CA Prarthana Jalan

Hon’ble Kolkata ITAT has deleted penalty u/s 271B in the case of Dr. Shantanu Datta in I.T.A. No. 261/Kol/2017 as there was a bona fide belief entertained by the assessee in the facts and circumstances of the case and the same constituted a reasonable cause for the failure of the assessee to comply with the requirement of section 44AB.

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Name: CA Prarthana Jalan

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Location: Uttar Pradesh, IN

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