THE HALDHAR FOODS(P) LTD.,FEROZPUR CANTT vs. INCOME TAX OFFICER, WARD-III(5), FEROZPUR

ITA 59/ASR/2018Status: DisposedITAT Amritsar20 March 2019AY 2012-1313 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the reasons provided by the assessee, such as FIR proceedings and a director's illness, did not constitute a reasonable cause for the significant delay in getting the accounts audited. The Tribunal found no nexus between the criminal proceedings and the inability to get accounts audited, especially since other staff were available.

What were the facts?

The assessee, Haldar Foods (P) Ltd., failed to get its books of accounts audited by the due date for AY 2012-13 and 2013-14, despite having significant turnover. The assessee claimed reasonable cause due to FIR proceedings and a director's illness.

What were the issues?

Whether the assessee had a reasonable cause for not getting its books of accounts audited within the stipulated time as required under Section 44AB of the Income Tax Act, 1961, thereby avoiding penalty under Section 271B.

Which sections of the Income-tax Act were involved?

Section 44AB,Section 271B

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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR

Before: SH. N.S.SAINI & SH. N.K.CHOUDHRY

Hearing: 20.02.2019Pronounced: 22.03.2019

PER N.K.CHOUDHRY, JM:

The aforesaid appeals have been preferred by the Assessee/Appellant against the composite order impugned herein dated 28.11.2017 passed by the Ld. CIT(A)-Bathinda, u/s 250(6) of the I.T. Act, 1961 (hereinafter called as ‘the Act’), whereby the Ld. CIT(A) affirmed the penalty imposed by the Assessing Officer u/s 271B of the Act.

2.

The issue involved in these appeals is identical therefore for the sake of brevity have been taken into consideration simultaneously for adjudication and facts of ITA No.59/Asr/2018 shall be quoted for adjudication and the result of the same shall apply mutatis mutandis to ITA No.60/Asr/2018. 3. The assessee has rai

The order continues below.

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