ANANT CUTTING EDGE PRIVATE LIMITED,PUNE vs. ASSESSING OFFICER- ASSESSMENT UNIT, INCOME TAX DEPARTMENT, AKRUDI, PUNE

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ITA 1523/PUN/2026Status: DisposedITAT Pune10 September 2026AY 2020-2114 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that penalty under section 270A was not leviable as the assessee had disclosed all material facts and offered a bona fide explanation, satisfying the conditions of section 270A(6)(a). For the penalty under section 271B, the Tribunal found reasonable cause for the delay in filing the tax audit report due to director disputes and pandemic, thus deleting the penalty.

What were the facts?

The assessee company did not file its return of income for AY 2020-21 and filed it only after a notice under section 148. The Assessing Officer accepted the returned income but levied penalty under section 270A for under-reporting. A separate penalty under section 271B was also levied for not filing the tax audit report on time.

What were the issues?

Whether penalty under section 270A is leviable when the assessee discloses all material facts and offers a bona fide explanation. Whether penalty under section 271B is leviable when there is a reasonable cause for the delay in filing the tax audit report.

Which sections of the Income-tax Act were involved?

Section 270A,Section 271B,Section 148

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & Ms. ASTHA CHANDRA

For Appellant: CA Tushar Oswal
For Respondent: Shri Rajesh Haladkar, Addl. CIT

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. The concerned Pr.CIT, Pune 4. DR, ITAT, ‘A’ Bench, Pune 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Assistant Registrar आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune

14 ITA Nos.1522 & 1523/PUN/2026

S.No. Details Date Initials Designation 1 Draft dictated on 08.09.2026 Sr. PS/PS 2 Draft placed before author 09.09.2026 Sr. PS/PS Draft proposed & placed before 3 JM/AM the Second Member Draft discussed/approved by 4 AM/AM Second Member Approved Draft comes to the 5 Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS Date on which the file goes to 9 the Office Superintendent Date on which file goes to the 10 A.R. 11 Date of Dispatch of order

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