M/S. MILK FOOD AIDS PVT. LTD.,BIKANER vs. ACIT, CIRCLE CIRCLE, BIKANER

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ITA 10/JODH/2019Status: DisposedITAT Jodhpur22 September 2023AY 2014-152 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that no penalty can be levied under Section 271BA if there is a reasonable cause for failure, as provided under Section 273B. Since the assessee's explanation was acceptable as reasonable, the penalty was obliterated.

What were the facts?

The assessee failed to upload the report under Section 92E before the due date of filing the return. The assessee submitted that this was due to technical glitches as the provision was recently introduced and that the report was produced before the Assessing Officer before the assessment was completed.

What were the issues?

Whether penalty under Section 271BA is leviable for failure to upload the report under Section 92E when there is a reasonable cause for such failure.

Which sections of the Income-tax Act were involved?

Section 271BA,Section 273B,Section 92E

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH: JODHPUR

Before: Shri Saktijit DeyDr. B. R. R. Kumar

For Appellant: Smt. Raksha Birla, CA
Hearing: 20.09.2023Pronounced: 22.09.2023

ORDER

Per Dr. B. R. R. Kumar, Accountant Member:

1.

The present appeal has been filed by assessee against the order of ld. CIT(A)-4, Jaipur, dated 25.10.2018.

2.

Following grounds have been raised by the assessee:

1. That on the facts and in the circumstances of the case, the ld. CIT(A) erred in upholding validity of imposition of penalty u/s 271BA of the Act.

2. That on the facts and in the circumstances of the case, the ld. CIT(A) erred in sustaining penalty u/s 271BA of the Act. 3. That on the facts and in the circumstances of the case, the ld. CIT(A) erred in not considering reasonable explanation furnished by the assessee.

M/s Milk Foods Aids Pvt. Ltd. 4. That the petitioner may kindly be permitted to raise any additional or alternative grounds at or before the time of hearing.

3.

Penalty has been levied u/s 271BA for failure of the assessee to upload the report u/s 92E before the due date of filing of the return. It was submitted that the assessee has produced the report before the Assessing Officer before the completion of the assessment. It was submitted that the Form No.3CEB could not be uploaded as the provision has been introduced recently and due to technical glitches.

4.

Having gone through the facts of the case and the order of the coordinate Bench of the ITAT, Jodhpur, in we hold that no penalty can be leviable u/s 271BA if there is a reasonable cause for failure of the assessee as provided u/s 273B. Since the explanation given by the assessee are acceptable as reasonable, the penalty levied u/s 271BA is hereby obliterated.

5.

In the result, the appeal of the assessee is allowed.

Order Pronounced in the Open Court on 22/09/2023.

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