ITAT Quashes Rs 1.5 Lakh Penalty Under Section 271B, Cites Reasonable Cause:
The ITAT deleted the Section 271B penalty after holding that director disputes and pending litigation constituted a reasonable cause under Section 273B.
ITAT Quashes Section 271B Penalty
Vanshika verma
Aug 8, 2026
Premium
ITAT Quashes Rs 1.5 Lakh Penalty Under Section 271B, Cites Reasonable Cause
The ITAT deleted the Section 271B penalty after holding that director disputes and pending litigation constituted a reasonable cause under Section 273B.
Also Read
ITAT Restores TDS Credit Case After Finding Merit in Reimbursement ExplanationITAT Rejects Business Loss Claim Over Colourable Advisory ArrangementITAT Allows Section 10(38) LTCG Exemption and Deletes Rs 12.62 Lakh Penny Stock Addition After Finding No Evidence of Accommodation EntryITAT Deletes Rs 9.66 Lakh Disallowance on Foreign Commission, Holds TDS Under Section 195 Not Applicable Where Services Rendered Outside India
About Author
Vanshika verma
Content Writer
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
1835My Recent Articles
- 57th GST Council Meeting on September 12: Registration Reforms on Agenda
- ITAT Deletes Rs 9.66 Lakh Disallowance on Foreign Commission, Holds TDS Under Section 195 Not Applicable Where Services Rendered Outside IndiaPremium
- ITAT Allows Rs 14.32 Lakh Foreign Tax Credit, Holds Delay in Filing Form 67 Cannot Deny Genuine Relief for Taxes Paid in KenyaPremium
- ICAI Issues Exposure Draft Guidance Note on Report Under Section 92E of Income-tax Act 1961
- ICAI Expands Bulk UDIN Facility for Tax Audit and Audit And Assurance Functions
Up Next
Loading suggestions…
Recent Posts
All Posts
Tags
Recent Posts
All Posts