ITAT Deletes Section 271D Penalty as AO Failed to Record Satisfaction in Assessment Order

Advertisement Amir Ahmed Vs JCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, allowed the appeals filed by two assessees for Assessment Year 2017-18 against separate orders of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (CIT(A)/NFAC), which had upheld penalties imposed under Section 271D of the Income-tax Act, 1961. At the outset, the Tribunal considered the assessees’ applications seeking condonation of a delay of 945 days in filing the appeals. The assessees explained that the delay had occurred due to circumstances beyond their control. As ...