Case Law Details
Sri. Abdul Azeez M Vs ACIT (ITAT Cochin)
Admittedly in this case, no audit report has been filed for assessment year 2009-2010. It is the contention of the assessee that there was a reasonable cause as mandated u/s 273B of the I.T.Act. It was submitted by the learned AR that consequent to search and seizure operation, the entire books of account and records were taken by the department. Further it was stated that the Chartered Accountant of the assessee was suffering from chronic illness and succumbed to illness on 09.03.2016. It was stated that the above two incidence had let to a situation of the books of account not being audited. The learned Departmental Representative supported the orders of the Income-tax authorities.
We have heard the rival submissions and perused the material on record. The search and seizure in assessee’s case was conducted on 06.01.2009. The assessee had obtained the copy of all the seized records. The demise of the Chartered Accountant in the year 2016 cannot be a reason for not auditing the books of account for assessment year 2009-2010.
Therefore, there was no reasonable cause as mandated u/s 273B of the I.T.Act for deletion of the penalty imposed u/s 271B for assessment year 2009-2010. It is ordered accordingly.
FULL TEXT OF THE ITAT JUDGEMENT
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