No section 271F penalty for delay in Filing Income Tax Return under Bona Fide Belief of No Taxable Income

Suresh Ramanbhai Naik Vs ITO (ITAT Surat) There is no dispute that the assessee has not filed return of income within due date prescribed under Section 139(1) of the Act for the A.Y. 2011-12. It is matter of fact that the assessee filed return of income belatedly on 02/10/2012. Copy of acknowledgement of return is placed on record. On perusal of acknowledgement, we find that the assessee has claimed payment of tax of Rs. 23,183/- (by way of TDS). The Assessing Officer while finalizing the assessment order under Section 144 r.w.s. 147 of the Act in the year 2018 initiated and levied penalty of ...