Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “B” BENCH, MUMBAI
Before: SHRI R.C. SHARMA, AM & SHRI SANDEEP GOSAIN, JM
सुनवाई की तायीख / : 20/07/2016 Date of Hearing घोषणा की तायीख / : 27.7.2016 Date of Pronouncement आदेश / O R D E R Per R.C. SHARMA, A. M.: This is an Appeal by the Assessee directed against the Order by the Commissioner of Income Tax (Appeals)- 52, Mumbai (‘CIT(A)’ for short) dated 19.02.2015 for the assessment year (A.Y.) 2008-09, in the matter of imposition of penalty u/s 271(1)(b) amounting to Rs.20,000/-.
(A.Y. 2008-09) Ganesh Agri Properties Pvt. Ltd. vs. Dy.CIT 2. Rival contentions have been heard and record perused. In this case the AO had levied penalty of Rs.20,000/- for assessee’s failure to file submission and explanation for non compliance of the notice. By the impugned order CIT(A) confirmed the action of AO.
We have considered rival contentions and found that notice u/s 143(2) and 142(1) of the act was issued and served upon the assessee on 16.08.2010 fixing the date of compliance on 16.08.2010. The next date of hearing fixed at 06.09.2010. The assessee did not have a copy of statements recorded u/s 132(4) of the act. The same was provided on 06.09.2010. The assessee submitted explanations with necessary supporting/evidences running into 18000 pages in respect of the various seized/impounded materials even prior to 19.11.2010. Due to the voluminous nature of the explanations, the effort and time required by the assessee to compile the same cannot be denied. The assessee, in its reply filed in response to the show cause notice has stated that explanations with necessary supporting/evidences had been submitted and there is no malafide intention on the part of the assessee to not provide the details necessary for assessment. All the requisite details were filed by assessee by mid-december 2010.
(A.Y. 2008-09) Ganesh Agri Properties Pvt. Ltd. vs. Dy.CIT 4. In view of the above we found that there was a reasonable cause for non compliance with the notice issued by AO within the stipulated time. Accordingly AO was not justified in imposing penalty u/s 271(1)(b) of the Act.
In the result, appeal of the assessee is allowed. Order pronounced in the open court on 27 July, 2016 Sd/- Sd/- (SANDEEP GOSAIN) (R.C. SHARMA) न्मायमक सदस्म / Judicial Member रेखा सदस्म / Accountant Member भुंफई Mumbai; ददनांक Dated : 27.07.2016 Ps. Ashwini आदेश की प्रनिलऱपि अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent 2. आमकय आमुक्त(अऩीर) / The CIT(A) 3. आमकय आमुक्त / CIT - concerned 4. ववबागीम प्रयतयनधध, आमकय अऩीरीम अधधकयण, भुंफई / DR, ITAT, Mumbai 5. गार्ड पाईर / Guard File 6. आदेशधिुसधर/ BY ORDER,