Section 275(1) of the Income Tax Act

Century Pharmaceuticals Ltd., Vadodara vs. Assessment Unit, Income Tax Department Present Jurisdiction the DCIT, Circle-1(1)(1), Vadodara

Bench: Smt.Annapurna Guptaआयकर अपील सं / Ita No. 867/Ahd/2024 िनधा"रण वष"/Assessment Year: 2016-17 Century Pharmaceuticals Ltd., बनाम Assessment Unit, 406, World Trade Centre, Income Tax Department Vs. Sayajigunj, Vadodara Represented Through Gujarat-390005 Dcit, Circle-1(1)(1), Baroda Pan: Aaacc 7646 K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Shri M.J. Shah & Shri Rushin Patel, Ars िनधा"रती की ओर से / Assessee By : Shri Hrishikesh Hemant Patki, Sr Dr ""थ" की ओर से / Revenue By: सुनवाई क" तारीख/Date Of Hearing : 24/07/2024 घोषणा क" तारीख /Date Of Pronouncement: 30/07/2024 आदेश/O R D E R The Present Appeal Has Been Filed By The Assessee Against The Order Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [In Short Referred To As “Ld. Cit(A)”] Under Section 250 Of The Income Tax Act, 1961 [In Short Referred To As “The Act”] Dated 26.02.2024, Confirming The Levy Of Penalty Of Rs.1,50,000/- U/S 271B Of The Act, For Delayed Furnishing Of Tax Audit Report As Required U/S 44Ab Of The Act, Pertaining To Assessment Year (Ay) 2016-17. 2. The Grounds Raised By The Assessee Are Descriptive & Argumentative In Nature. I Am, Therefore, Reproducing Only The Highlighted Portion Of The Grounds Of Appeal Which Are As Follows:- “1. On The Facts & On The Facts & In The Circumstances Of Your Appellant’S Case & In Law, The Honorable Cit-Appeals (Nfac) Has Erred In Confirming The Action Of The Ld. Ao Of Invoking Provision Of Section 271B, In Our Case After The Six Years By Violating The Provision Of The Section 275(1) Of The Act.