ITAT Visakhapatnam Judgments — September 2024

The Tribunal held that the assessee should be given another opportunity to present his case to meet the principles of natural justice. The matter was remitted back to the CIT(A) for fresh consideration.

The Tribunal held that the assessee failed to provide evidence to substantiate the claim of white ants destroying records as a reasonable cause for the delay. Therefore, the penalty under Section 271B was confirmed.

The Tribunal observed that while opportunities were provided, the assessee did not comply. However, to ensure principles of natural justice, the Tribunal decided to give the assessee one more opportunity to be heard. The matter was remitted back to the CIT(A) for fresh consideration.