Tribunal held that when the entire additions were deleted at appellate stage and the explanation of the assessee being bonafide , levy of penalty is held to be not valid . ( AY.2005-06 to 2009-10)
Sanjay Tyagi v. Dy. CIT (2020) 82 ITR 44 (SN)(Delhi) (Trib)
S. 271(1)(b) : Penalty – Failure to comply with notices – Entire
additions deleted at appellate stage —Bona fide explanation- Penalty not leviable. [ S.142(1) ]