Penalty u/s 271(1)(b) not imposable as reasonable cause shown

Sh. Krishan Kumar Modi Vs ACIT (ITAT Delhi)

ITAT Delhi held that penalty u/s 271(1)(b) of the Income Tax Act not imposable as reasonable cause shown for non-furnishing of consent form sought by AO.

Facts- A search & seizure operation u/s 132 of the Income Tax Act, 1961 was carried out in the case of the assessee on 09.11.2011. Subsequently, notice u/s 153A of the Act was issued on 02.11.2012 to file return of income within 19 days from the service of notice.

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