2019 (1) TMI 1053

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....Income Tax Act 1961 (the 'Act'). As common issues are involved, we are proceeding to dispose them off through a consolidated order for the sake of convenience. There has been a delay of 46 days on the part of the assessee in filing the appeal before the Tribunal. The assessee has filed an affidavit signed by Jasbir Kaur Bakshi, Director of the assessee-company stating that her husband Mr. J.B.S. Bakshi who was the Managing Director expired and left his only 42 years son (who is mentally a disabled person). Also it is stated that the assessee-company is near to bankruptcy and bankers have lodged the matter against the company in Debt Recovery Tribunal. Considering the above facts, we condone the delay of 46 days in filing appeals befor....

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....Ld. CIT(A). It is found that the Ld. CIT(A) agreed with the contention of the AO that the assessee failed to offer any explanation or evidence to prove that such explanation was bonafide and the facts relating to the same were available on record during the assessment proceedings. The Ld. CIT(A) relied on the decision in the case of B.A. Balasubramanium & Bros. Co. v. CIT (SC) mentioning that "differences between income assessed and income returned was more than 20%, the Explanation to section 271(1)(c) became applicable and the ITO was justified in imposing penalty because the assessee had not been able to discharge the onus which was on it under the said Explanation, notwithstanding the fact that income was assessed on estimation basis." ....