Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE
Before: SHRI CHANDRA POOJARI & SMT. BEENA PILLAI
PER CHANDRA POOJARI, ACCOUNTANT MEMBER:
This appeal by assessee is directed against order of NFAC for the assessment year 2017-18 dated 31.1.2023. The assessee is challenging herein levy of penalty u/s 271B of the Income-tax Act,1961 ['the Act' for short].
2. The assessee challenged the levy of penalty u/s 271B of the Act before the NFAC. Before the NFAC, assessee has not represented its case. Hence, NFAC confirmed the levy of penalty u/s 271B of the Act at Rs.1,50,000/-. The ld. A.R. submitted that assessee was not Page 2 of 2 well aware of the ITBA portal and sought one more opportunity to present the case before NFAC. We accede to the request of the ld. A.R. Accordingly, the issue in dispute is remitted to the file of NFAC/CIT(A) for giving an opportunity to the assessee to present his case.
In the result, appeal of the assessee is partly allowed for statistical purposes.
Order pronounced in the open court on 15th June, 2023