Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Satbeer Singh Godara & Shri Amarjit Singh
O R D E R Per Bench This assessee’s appeal for A.Y. 2017-18 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/ NFAC/S/250/2022- 23/1051488413(1) dated 28.03.2024 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).
Heard both the parties at length. Case file perused.
Coming to the assessee’s sole substantive ground that both the lower authorities have erred in law and on facts in levying section 271B penalty, we find that the assessee has filed her return on 28.03.2018 followed by submission of relevant tax audit report on 11.05.2018 finally culminating in section 143(3) regular Surabhi Surendranathan assessment framed on 29.10.2019. The assessee had admittedly attributed the impugned delay of 2 months in filing of relevant documents to communication gap and other miscellaneous reasons with the office of her auditor. Be that as it may, the assessee had duly filed her audit report well before the due date for filing the return. That being the case the assessee’s explanation has reasonable cause within the meaning of Section 273B of the Act; therefore, the impugned penalty is deleted.
This assessee’s appeal is allowed.