ITAT Kolkata – Penalty u/s 271(1)(b) Deleted; Completion of Assessment u/s 143(3) Implies Condonation of Alleged Non-Compliance

The ITAT Kolkata held that where assessment is completed under Section 143(3), alleged earlier non-compliance with notices stands impliedly condoned. Penalty under Section 271(1)(b) was therefore unsustainable and deleted.

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