2018 (2) TMI 102

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.... that :- "1. On the facts and circumstances of the case, the order passed by the learned Commissioner of Income Tax {CIT(A)} is bad, both in the eye of law and on facts. 2. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in passing the order without giving assessee a proper and adequate opportunity of being heard in gross violation of principle of natural justice. 3. On the facts and circumstances of the case, the Id. CIT(A) has erred both on facts and in law in 'confirming the order passed by the learned Assessing Officer (AO) levying penalty amounting to Rs. 1,00,000/- invoking the provision of Section 271 B of the Act, 1961. 4. On the facts and circ....

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....nalty to the tune of Rs. 1,00,000/-. 3. Assessee carried the matter by way of filing appeal before the ld. CIT (A) who has dismissed the appeal. Feeling aggrieved, the assessee has come up before the Tribunal by challenging the impugned order passed by ld. CIT (A). 4. We have heard the ld. Authorized Representatives of the parties to the appeal, gone through the documents relied upon and orders passed by the revenue authorities below in the light of the facts and circumstances of the case. 5. Undisputedly, the assessee society is registered u/s 12A of the Act as a charitable trust engaged in charitable activities for imparting education through its colleges. It is also not in dispute that the assessee society has been claiming exem....

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....ear; or] [(e) carrying on the business shall, if the provisions of subsection (4) of section 44AD are applicable in his case and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year,] get his accounts of such previous year audited by an accountant before the specified date and furnish by that date the report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed : [Provided that this section shall not apply to the person, who declares profits and gains for the previous year in accordance with the provisions of sub-section (1) of section 44AD and his total sales, turnover or gross receipts, ....