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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. 2015-16 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/NFAC/S/250/2024- 25/1064799013(1) dated 10.05.2024 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).
Heard both the parties at length. Case file perused.
The assessee’s sole substantive ground raised in the instant appeal challenges both the learned lower authorities’ action imposing section 271B penalty of Rs. 1,50,000/- on account of the fact that it had failed to file the relevant tax audit report within the due date of filing of return u/s. 139(1) of the Act.
Attinkara Electronics 3. Learned counsel first of all submits that this is not a case of non filing of assessee’s tax audit report altogether but that of belated filing only which stood complied very well before the Assessing Officer’s section 143(3) regular assessment. He next invites our attention to both learned lower authorities’ respective findings that it had also filed the medical record of its authorised representative which has been wrongly rejected as not forming a “reasonable cause” u/sec.273 of the Act.
Faced with this situation, learned Sr. D.R. could hardly dispute that this tribunal has already accepted assessee’s very case in earlier assessment years even going by the penalty order. We thus adopt judicial consistency to accept assessee’s sole substantive ground for the purpose of deleting section 271B penalty imposed by the lower authorities. Ordered accordingly.
This assessee’s appeal is allowed in above terms.