2019 (9) TMI 442

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....posed-of by way of this common order. For the sake of convenience, appeal in ITA No.1246/Hyd/2016 is discussed in detail, hereunder. 2. Brief facts of the case are that the assessee is in the business of chit fund. During the course of regular scrutiny proceedings for the AY.2006-07, the Assessing Officer (AO) noticed that assessee did not file return of Fringe Benefit Tax (FBT) even though the same is applicable to the assessee. Therefore, re-assessment proceedings were initiated and notice u/s.115WH of the Income Tax Act [Act] was issued on 31-10-2008. Even after adequate opportunities, neither the assessee filed the return nor furnished any details during the re-assessment proceedings. Finally, the assessment was completed on 20-11-200....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed Commissioner of Income-Tax (Appeals) is erroneous both on facts and in law. 2. The learned Commissioner of Income-Tax (Appeals) erred in confirming the action of the Assessing Officer in levying penalty of Rs. 74,873/- u/s.271(1)(d) of the I.T.Act. The learned Commissioner of Income-Tax (Appeals) ought to have considered the explanation submitted and cancelled the penalty. 3. Any other ground that may be urged at the time of hearing". 3. Ground Nos.1 & 3 are general in nature. Hence, needs no adjudication. 4. With regard to Ground No.2, Ld.AR submitted that assessee is not aware of the FBT provisions and he submitted that the FBT provisions are withdrawn and not applicable any more after 01-04-2010. He submitted that since the prov....