The ITAT Visakhapatnam reduced a penalty under Section 271(1)(b) from Rs.30,000 to Rs.10,000 after treating non-compliance with three notices under Section 142(1) as a single default. The Tribunal granted partial relief while holding that the assessee failed to establish reasonable cause for non-compliance.
The post ITAT Reduces Section 271(1)(b) Penalty by treating Multiple Notice Defaults as One appeared first on TaxGuru.
