No Penalty u/s 271FB if Assessee has no malafide intentions

Brief of the Case

In the case M/s. Ashok Trading Co. Vs. ITO the Hon’ble Kolkata ITAT held that as per sub-section (2) of 115WD, if the assessee had not filed the return of Fringe Benefit but in the opinion of the AO he should have filed the return, the AO should issue notice requiring it to file such return, but no such notice was issued by the AO. Also, there was no charge of the department that the assessee concealed any particulars or submitted inaccurate particulars of income. Since it was the fi

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