Tax Guru3m
Section 271(1)(b) cannot be imposed for each non-compliance of Section 143(2) notices
This ruling underscores the principle that penalties under Section 271 (1) (b) must be applied judiciously, aligning with the law’s intent to deter non-compliance without undue repetition. The ...
Tax Guru7m
Undisclosed Foreign Bank Account: No Penalty on mere allegations without substantiated proof
In the case of Charu Modi Bhartia Vs DCIT before the ITAT Delhi, the tribunal overturned a penalty levied under Section 271(1 ...