2017 (9) TMI 44

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....USTICE AKIL KURESHI) 1. Revenue is in appeal against the judgement of the Income Tax Appellate Tribunal dated 23.08.2016 raising the following question for our consideration: Whether the ITAT is justified in law and in fact in quashing and setting aside order of AO imposing penalty? 2. The issue pertains to assessment year 2002-03. The assessee had not filed return claiming that his....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... been assessed to tax since he had only agricultural income not taxable under the provisions of the Act. The same is stated to be sufficient cause for the purpose of reversing both the lower authorities action in imposing the impugned penalty. Shri Yogesh Pandey, learned C.I.T - (D.R.) at this stage vehemently argues that section 271 explanation 3 of the Act to this effect stands amended vide Fina....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Unamended Explanation 3 provided that when any person "who has not been previously assessed under this Act" fails without reasonable cause to furnish return within the time specified in sub-section (1) of Section 153 required to be furnished under section 139 and until expiry of such period no notice has been issued under sub-section (1) of section 142 or section 148 of the Act and the Assessing....