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Section 273B in The Income Tax Act, 1961 273B. [ Penalty not to be imposed in certain cases. [Inserted by Act 46 of 1986, Section

assessee is liable for penalty under Section 271E of the Act. 15. Section 269T , Section 271E and Section 273B of the Act, to the extent ... compliance of the provisions of Section 269T renders the person liable for penalty under Section 271E; and c) Section 273B provides that no penalty under

justified in deleting the penalty u/s. 271 held that here was reasonable cause u/s. 273B and held as under:- "3. Regarding Question ... Tribunal further holding no penalty under Section 271D of the Act is imposable in view of Section 273B of the Act in the present facts

with Section 44AB and the provisions of Section 139(9) in the light of the penalty provisions under Section 271B r/w Section 273B ... both are integrally enacted. While Section 271B provides for consequence of non-compliance of Section 44AB , Section 273B provides defence or way by which

down in Section 274 of the Act. The assessee's counsel submits that penalty proceedings under Section 271B read with Section 273B ... suit. We also hold that the penally proceedings under Section 271B read with Section 273B arc not in the nature of a criminal trial

does not amount to breach of Section 269T . Hence, there was a reasonable cause as provided u/s 273B and penalty is not leviable ... entries. This non- compliance with Section 269SS of the Act would certainly be a reasonable cause under Section 273B of the Act for non-imposition

provision section 273B was inserted in the IT Act, 1961 . This new provision ( section 273B ) in clear terms lays down that a person ... such cause was solely responsible for the contravention of section 44AB . The provisions of section 273B have not been complied with by the assessee-firm

Section 269T , the assessee is liable for penalty under Section 271E of the Act. 15. Section 269T , Section 271E and Section 273B ... compliance of the provisions of Section 269T renders the person liable for penalty under Section 271E; and (c) Section 273B provides that no penalty under

mode prescribed under Section 269T . To cater to the needs of such exigencies, the legislature has enacted Section 273B which provides that no penalty under ... Section 249 (iii) , 253 (v) and 260A (iia) of the Act, the legislature has used the expression "reasonable cause" in Section 273B

Section 269T and the penalty imposable under Section 271E , the legislature, by the Taxation Laws (Amendment & Miscellaneous Provisions) Act 1986 has introduced Section 273B ... compliance of the provisions of Section 269T renders the person liable for penalty under Section 271E; and (c) Section 273B provides that no penalty under