SHRI KHERAJ RAM,BARMER vs. DC CEN CIR01, JODHPUR

ITA 114/JODH/2023Status: DisposedITAT Jodhpur21 December 2023AY 2014-158 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the assessee was availing the presumptive scheme under Section 44AD, they were not required to maintain detailed books of accounts. Therefore, the penalty for non-compliance was unjustified.

What were the facts?

The assessee filed returns under the presumptive scheme of Section 44AD. During assessment proceedings, the assessee failed to produce capital account details and statement of affairs when asked by the Assessing Officer. Consequently, a penalty was levied under Section 271(1)(b).

What were the issues?

Whether penalty under Section 271(1)(b) is leviable for non-compliance with a notice for production of documents when the assessee is operating under the presumptive taxation scheme of Section 44AD.

Which sections of the Income-tax Act were involved?

Section 44AD,Section 271(1)(b),Section 142(1)(iii)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH,JODHPUR.

Before: DR. M. L. MEENA & SH. ANIKESH BANERJEE

For Appellant: Smt. Raksha Birla, CA
For Respondent: Ms. Nidhi Nair, Sr. DR
Hearing: 19.12.2023Pronounced: 21.12.2023

Per: Bench: A batch of four appeals of the same assessee were filed against the order of the ld. Commissioner of Income Tax (Appeals) Udaipur-2,[in brevity the ‘CIT (A)’] order passed u/s 250 of the Income Tax Act 1961, [in brevity the Act] for A.Ys. 2011-12 to 2014-15. The impugned orders were emanated from the order of I.T.A. Nos. 111 to 114/Jodh/2023 2 Assessment Years: 2011-12 to 2014-15

the ld. Dy. Commissioner of Income Tax, Central Circle-1, Jodhpur, (in brevity the AO) order passed u/s 271(1)(b) of the Act.

2.

At the outset, all the appeals are common and have a same nature of fact. Therefore,

The order continues below.

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