Sec. 271(1)(b) Penalty Invalid as AO Accepted Compliance by Passing Order u/s 143(3)

Carreen Builders & Developers Pvt. Ltd. Vs DCIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi Bench has set aside a penalty of Rs. 10,000 imposed on Carreen Builders & Developers Pvt. Ltd. by the Deputy Commissioner of Income Tax (DCIT) for the Assessment Year 2012-13. The penalty, levied under Section 271(1)(b) of the Income Tax Act, 1961, was for alleged non-compliance during assessment proceedings. The ITAT’s decision, pronounced on September 20, 2017, hinged on the assessee’s cooperation throughout the assessment and the final completion of the assessment under Se...