ITAT Restores Section 271AAC Penalty as Quantum Assessment Was Set Aside

Anita Kesari Vs ITO (ITAT Indore) The Indore Bench of the Income Tax Appellate Tribunal (ITAT) adjudicated two appeals filed by the assessee for Assessment Year 2017-18. Both appeals were delayed by 97 days. The assessee submitted affidavits seeking condonation of delay, explaining the reasons for late filing. The Revenue did not object to the condonation request. The Tribunal, after considering the explanations, found that the assessee had demonstrated “sufficient cause” under Section 253(5) of the Income-tax Act, 1961. Relying on the principle laid down by the Supreme Court in Co...