TaxTMI 
TaxTMI 
2016 (4) TMI 343
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....ng the said addition of penalty Rs. 1,00,000/- and thereby dismissed the appeal of the assessee. 2. That the ld A.O. grossly erred in imposing the penalty in violation of Sec. 274. The ld A.O. imposed penalty U/s 271B without approval of Joint Commissioner." 2. The sole ground of the appeal is against confirming the penalty U/s 271B of the Income Tax Act, 1961 (in short the Act) at Rs. One lac. The ld Assessing Officer observed that the assessee filed return for A.Y. 2008-09 on 17/2/2009, which was belated. On verification of return, he found that in F.Y. 2007-08, total receipts/sales were more than Rs. 40 lacs (Rs. 2,09,07,387/-). As per Section 44AB of the Act, the assessee is required to get accounts audited and is to be submitted ....
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....ply on 23/3/2009 wherein he had admitted that he filed return late and no evidence was filed that he had filed audit report on or before 30/09/2008. He concluded that the assessee had not got and submitted audit U/s 44AB of the Act in time. On 07/9/2009, the Manager of the assessee asked to give more time to comply the requirement of the Assessing Officer for 15 days. When adjournment was not granted to the Manager Shri Bhupendra Kumar Sharma within a short period produced copy of audit report, which was certified by the Manager himself. This audit report has not been certified by the assessee. However, assessee claimed that this audit report had been certified by him. The assessee failed to comply the provisions of Section 44AB of the Act ....
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....sions, it has been stated that the assessee is an individual having income from running of an Indian Oil Outlet (Petrol Pump) in the name of Shiv Indian Oil, Bar Road, Khandar, district- Sawai Madhopur. The turnover of the assessee was exceeding the limit of audit i.e. Rs. 40 lacs and as per law he had to file audit report by 30/09/2008. The assessee got the audit done and gave the same to his A.R./Chartered Accountant for filing onwards to the Income Tax Department and he also casted upon the duty of filing the return to the same Chartered Accountant. The assessee is living in a village. He is not aware about the technical dates for filing all the returns, audit report and alike every year he was depending upon his authorized person, but t....
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.... is to be filed on or before 30/09/2008. The explanation given by the assessee is not supported with any evidence. He further relied on the decision in the case of K. Ravindranathan nair Vs DCIT (2009) 319 ITR 108 (Ker) wherein it has been held that when the appellant did not adduce any evidence to justify the delay in filing of the audit report as required U/s 44AB before the Tribunal, there was no ground to interfere with minimum penalty imposed for, admitted delay of filing audit report. He further relied on the decision in the case of River View Bar & Silver Restaurant Vs. CIT (Central), Kochi (2011) 15 taxmann.com 84 (Kerala) wherein it was claimed that audit report got prepared but not submitted by the authorized representative but th....