TaxTMI 
TaxTMI 
2019 (6) TMI 96
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.... the facts and in the circumstances of the case, ld. CIT (A)-I Jaipur has grossly erred in law and facts in confirming order of penalty which is bad in law and facts. Hence liable to be quashed. 2. That on the facts and in the circumstances of the case ld. CIT (A)-I, Jaipur has grossly erred in law and facts in confirming penalty of Rs. 1,50,000/-, which is totally against the law and against the spirit of CBDT Circular No. 3 of 2009. 3. That on the facts and in the circumstances of the case the assessee was under bonafide belief that he is required to obtain audit report before due date of filing of return and submit as and when it is demanded by the assessing authority. Hence no penalty can be imposed. 4. That t....
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....navoidable circumstances the assessee could not file the return of income before the due date as per provisions of section 139(1) of the Act but the return was filed under section 139(4) of the Act and, therefore, the assessee has bonafide reasons and explanation for not filing the audit report as per provisions of section 44AB of the Act. The ld. CIT (A) could not accept the explanation of the assessee and confirmed the levy of penalty. 3. Before us, the ld. A/R of the assessee has reiterated his contention and submitted that the assessee has given the date of Audit Report in the return of income and, therefore, it is not a case of non-audit report but since the return of income itself was filed belatedly, therefore, there was a delay i....
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....ee was required to comply with the existing rules at the relevant point of time. He has relied upon the orders of the authorities below. 5. We have considered the rival submissions as well as the relevant material on record. The AO has levied the penalty on account of failure of the assessee to file the audit report before the due date of filing the return under section 139(1) of the IT Act i.e. 30th September, 2012. Since the assessee has filed the return of income on 29th March, 2014, therefore, the AO considered this late filing of the return along with the audit report as violation of provisions of section 44AB and consequently the AO levied the penalty under section 271B of the Act. The ld. CIT (A) has confirmed the said action of t....
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....red to file its audit report electronically which was not done by the appellant. Had the appellant filed its return of income before the above amendment made in Rule 12(2) of the IT Rules w.e.f. 01.04.2013, it would not be required to file its audit report electronically but that is not the case. Therefore, in view of the totality of facts and circumstances of the case, it is held that the appellant has not complied with the provisions of section 44AB of the Act to be read with Rule 12 of the IT Rules and thus the AO was justified in imposing penalty of Rs. 1.50 lac u/s 271B of the Act and hence the same is hereby upheld." Thus the ld. CIT (A) has applied the amended provisions of Rule 12(2) of the IT Rules as on the date of filing of th....