Case Law Details
Sanjiv Dutta Vs ITO (ITAT Delhi)
Assessee get his accounts audited & furnished report of such audit as required u/s 44AB before finalization of assessment order, as mandated u/s 271B of the Act so ITAT deleted Penalty.
In the instant case, the Assessee filed its return of income on 30.09.2011 and the books of account of the Assessee have also been audited only on 30.09.2011, however it seems that somehow due to inadvertent or otherwise mistake in the name of Auditor, the Assessee failed to file correct audited books of account, alongwith original return of income, but it is a fact that audited books of account which are not in dispute, have duly been filed along with the revised return of income. The facts and figures of the original return and the revised return are exactly same and there is nothing contrary. Even it is not the case of the Revenue-Department that the Assessee has failed to get his accounts audited for the year under consideration and/or failed to furnish report of such audit as required u/s 44AB of the Act before the finalization of the assessment order, as mandated u/s 271B of the Act. Considering the facts and circumstances in totality and the relevant provisions of law, we are inclined to delete the penalty levied u/s 271B of the Act by the AO and affirmed by the Ld. Commissioner, which is under consideration.
FULL TEXT OF THE ORDER OF ITAT DELHI
The Assessee has preferred the instant appeal against the order dated 04.07.2019 impugned herein, passed by the Ld. Commissioner of Income tax (Appeals)-11, New Delhi (in short “Ld. Commissioner”) u/s 250 of the Income-tax Act,1961 (in short “the Act”), pertaining to the assessment year 2011-12.
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