No Section 271(1)(b) Penalty if Assessment completes U/s. 143(3)

Ramabhai Kanjibhai Patel Vs DCIT (ITAT Surat)

The case of Ramabhai Kanjibhai Patel Vs DCIT (ITAT Surat) has significant implications for the levying of penalties under section 271(1)(b) of the Income Tax Act, 1961. It examine into a critical question – can a penalty under section 271(1)(b) be applied when an assessment has been completed under section 143(3)?

In the case at hand, the assessee, Ramabhai Kanjibhai Patel, had appealed against the levying of penalty under section 271(1)(

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