2016 (7) TMI 1517

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...., 2009- 2010) - -<br>Income Tax<br>Shri D. Karunakara Rao &nbsp;And Shri Sanjay Garg, JJ. Assessee by: Shri Vijay Mehta Revenue by: Shri K. Ravi Kiran, Sr. AR ORDER PER BENCH: There are seven appeals under consideration and they are filed by the assessees involving the assessment years 2008-2009. Since, the issues involved in these appeals are identical, therefore, for the sake of c....

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....pressure of audit work and supply of information to the auditors. The assessee had to submit explanations and the voluminous paper books contain 1800 papers prior to November, 2010. The assessment proceedings started in August, 2010 and they are getting time barred by December, 2010. In this back ground of the facts, AO issued noticed u/s 143(2) and 142(1) of the Act. Although the assessee could n....

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....Counsel for the assessee submitted that this is not the case of non-compliance to the assessment proceedings; but, merely a case of "belated compliance". In any case, assessee complied and cooperated with the AO in computing the assessment u/s 143(3) of the Act. In these circumstances, as per the Ld Counsel, the penalties levied u/s 271(1)(b) of the Act should not be sustained. For this propositio....

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....142(1) but the assessment order was passed u/s 143(3) and not u/s 144 of the Act, that meant the subsequent compliance in the assessment proceedings was considered as good compliance and the defaults committed earlier were ignored by the AO and therefore, the levy of penalty u/s 271(1)(b) was not justified. Considering the same as well as respectfully following the decisions of the Tribunal and al....