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Income Tax Appellate Tribunal, “C” BENCH, CHENNAI
Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2015-16 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [CIT(A)] dated 19-01- 2023 confirming penalty u/s 271B for Rs.1.50 Lacs. The impugned penalty has been levied by Ld. AO vide order dated 17-02-2022. At the time of hearing, none appeared for assessee. The Ld. Sr. DR submitted that penalty was mandatory in nature and therefore, the impugned order may be confirmed. Having considered material on record, the appeal is disposed-off as under. The registry has noted delay of 29 days in the appeal. Considering the period of delay, the delay is condoned and the appeal is admitted for adjudication on merits.
The impugned penalty stem from the facts that the assessee was assessed u/s 143(3) accepting the returned income of Rs.11.83 Lacs. However, it was noted that the stipulated date for filing of return of income along with Tax Audit Report was 30-09-2015. However, the assessee uploaded Tax Audit Report dated 30-10-2015 only on 29-03- 2016. Therefore, impugned penalty of Rs.1.50 Lacs u/s 271B was levied by Ld.AO. The Ld. CIT(A) confirmed the same against which the assessee is in further appeal before us.
The undisputed fact that emerges is that the extended due date for filing Tax Audit Report for this year was 31-10-2015. The assessee has got the accounts audited before that date. There is delay only in uploading of the same. Therefore, in our considered opinion, this is not a fit case for levy of impugned penalty. By deleting the impugned penalty, we allow the appeal.
The appeal stand allowed. Order pronounced on 25th September, 2023.