WARDHA TAHASIL GO DUGDHA UTPADAK SAHKARI SANGH LTD.,WARDHA vs. ITO WARD - 2, WARDHA, WARDHA

ITA 48/NAG/2026Status: DisposedITAT Nagpur08 September 2026AY 2015-165 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had complied with the third proviso to Section 44AB by getting its accounts audited under another law before the specified date. Therefore, the penalty levied for the delay in furnishing the tax audit report was deleted.

What were the facts?

The assessee, a cooperative society, failed to file its tax audit report under Section 44AB by the due date. However, it had completed its statutory audit under the Maharashtra Cooperative Societies Act by the due date and submitted it to the relevant government departments.

What were the issues?

Whether penalty under Section 271B is leviable when the assessee has complied with the audit requirements under a different law as per the third proviso to Section 44AB.

Which sections of the Income-tax Act were involved?

Section 44AB,Section 271B,Section 139(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR SMC BENCH, NAGPUR

Before: SHRI MANISH BORAD

For Appellant: Shri Mahavir Atal, CA
For Respondent: Shri Shiv Shankar Yadav, Sr.DR
Hearing: 05/08/2026Pronounced: 08/09/2026

This appeal by the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi (for short, “CIT(A)”) dated 17.12.2025 passed u/sec. 250 of the Income Tax Act, 1961 (for short, “Act”) which is arising out of penalty order dated 17.09.2024 passed u/sec. 271B of the Act for the Assessment Year (A.Y.) 2015-16. 2. The only issue for consideration is regarding the penalty of Rs. 1,50,000/- levied u/sec. 271B of the Act for not getting the books of account audited u/sec. 44AB of the Act.

3.

I have heard the rival submissions and perused the material placed before me. I have also gone through the written submissions filed before the lower authorities as well as filed before this Tribunal. I observe that assessee is a co

The order continues below.

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