102 results for “penalty u/s 271”+ Section 10(3)clear
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The appeals of the assessees are disposed of in the terms indicated as above
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
10. It is seen that penalty imposable u/s. 271(1)(b) is included in the provisions of section 273B. By the said provisions, the Parliament has unambiguously made it clear that no penalty "shall be" imposed, if the assessee "proves that there was a reasonable cause for the said failure". As noticed, if the statutory provision shows that the word