LIBO JOHN,THODUPUZHA vs. THE ITO WARD 1 & TPS , THODUPUZHA

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ITA 440/COCH/2023Status: DisposedITAT Cochin23 October 2024AY 2017-18Bench: Shri Satbeer Singh Godara (Judicial Member), Shri Amarjit Singh (Judicial Member)2 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had a reasonable cause for the delay in filing the tax audit report due to communication gaps with the auditor. Therefore, the penalty levied under section 271B was deleted.

What were the facts?

The assessee filed her return of income along with the tax audit report with some delay. The Assessing Officer completed the assessment and levied a penalty under section 271B.

What were the issues?

Whether the delay in filing the tax audit report constitutes a reasonable cause for waiving the penalty under section 271B.

Which sections of the Income-tax Act were involved?

Section 271B,Section 273B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: Smt. V. Swarnalatha, Sr. D.R
Hearing: 22.08.2024Pronounced: 23.10.2024

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- 23/1040686868(1) dated 13.02.2023 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).

Case called twice. None appears at assessee’s behest. We accordingly proceed exparte against the assessee.

2.

Learned Sr. D.R. vehemently supports both the lower authorities’ action levying section 271B penalty in assessee’s case; inter alia, on the ground that the latter had filed her return on 31.03.2018 along with tax audit report. It goes without Libo John saying that the Assessing Officer completed section 143(3) assessment on 30.10.2019. Meaning thereby that although there is some delay in filing of the assessee’s return along with tax audit report, she has indeed explained the reasons thereof due to various communication gaps, etc. with the auditor’s office. That being the case we hold that the assessee has been able to prove a “reasonable cause” u/sec.273B of the Act and, therefore, we delete the impugned penalty. Ordered accordingly.

3.

This assessee’s appeal is allowed in above terms.

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