Income Tax Penalty Overturned for Non-Compliance

Statutory notice issued under section 142(1) r.w.s. 129 of the Income Tax Act

Quick Summary

The Income Tax Appellate Tribunal allowed an appeal filed by SPS Tube Industries, overturning a £10,000 penalty. The penalty was imposed under section 271(1)(b) for failing to comply with a notice issued under section 142(1) of the Income Tax Act. However, the Tribunal found that the assessee had reasonable cause for non-compliance, thus waiving the penalty.

Court :
ITAT Ahmedabad

Brief :
Assessee is in appeal against order of the ld.CIT(A)-3, Ahmedabad dated 31.12.2018 passed under section 271(1)(b) of the Income Tax Act, 1961.

Citation :
ITA No.141/Ahd/2019

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1 Year PLAN - Rs.~~1999~~

1799

(Excl. of GST ₹323)

2 Years PLAN - Rs.~~3499~~

3149

(Excl. of GST ₹566)

BEST VALUE

3 Years PLAN - Rs.~~4999~~

4499

(Excl. of GST ₹809)

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Attached File : 1442821_4229_1627971510_141_19_arpy_ajs_vc_sps_tube_industries.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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