https://www.taxtmi.com/highlights?id=84129 AO levied penalty u/s 271(1)(c) as assessee failed to file return u/s 139 or in response to notice u/s 148, despite receiving substantial contract receipts of Rs. 2.5 crore. ITAT upheld penalty, rejecting assessee's plea that addition was estimated, as assessee defied statutory requirements and didn't furnish details during assessment proceedings. Assessee's contention of auditor's failure being the cause was rejected, as filing return u/s 139 is assessee's responsibility. Penalty confirmed. en-us Thu, 19 Dec 2024 08:47:41 +0530 Thu, 19 Dec 2024 08:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84129 AO levied penalty u/s 271(1)(c) as assessee failed to file return u/s 139 or in response to notice u/s 148, despite receiving substantial contract receipts of Rs. 2.5 crore. ITAT upheld penalty, rejecting assessee's plea that addition was estimated, as assessee defied statutory requirements and didn't furnish details during assessment proceedings. Assessee's contention of auditor's failure being the cause was rejected, as filing return u/s 139 is assessee's responsibility. Penalty confirmed. Highlights Income Tax Thu, 19 Dec 2024 08:47:41 +0530 https://www.taxtmi.com/highlights?id=84129