| Question And Answer | |
|---|---|
| Subject: | Penalty u/s 271(1)(b) for alleged noncompliance of notices u/s 142(1) in assessment u/ s 147 r.w.144 and 144B |
| Category: | Income-Tax |
| Querist: | H S Kumbhat |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Concealment penalty, noncompliance of notice, penalty |
| Date: | August 17, 2022 |
Penalty u/s 271(1)(b) for alleged noncompliance of notices u/s 142(1) in assessment u/ s 147 r.w.144 and 144B
Penalty under section 271(1)(b) of the Income-tax Act, 1961 (Act) is Rs. 10,000/-. As per section 273B of the Act, no penalty can be levied under section 271(1)(b) of the Act, where the assessee proves that there is a reasonable cause for such failure. Therefore, the onus is on the assessee to establish that there was a reasonable cause for them to be not able to respond to the said notice.
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