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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/250/2023- 24/1053834480(1) dated 21.06.2023 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.
We notice at the outset that both the learned lower authorities have levied sec.271B penalty in assessee’s hands on account of it’s default in filing tax audit report within the “due” date of filing u/sec.139(1) of the Act. Learned DR could Manamboor Service Co-op. Bank Ltd. hardly dispute that the assessee had duly filed the said tax audit report well before the sec.143(3) regular assessment framed on 20.12.2019. The only inference which arises in this factual backdrop is that possibility of some delay in such a case requiring the state government authorities approval, could not be altogether ruled out. We conclude in these facts that all this delay forms a “reasonable” cause in assessee’s instant case u/sec.273B of the Act. The impugned penalty is deleted therefore. Ordered accordingly.
This assessee’s appeal is allowed in above terms.