2020 (4) TMI 458

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.... 02. The ex-parte order upholding/confirming the levy of penalty at Rs. 1,50,000/- by the learned GIT (A) void ab-initio, inasmuch as, the appellant was prevented by a reasonable and sufficient cause r seeking an adjournment. No reason was assigned for refusing to grant adjournment. 03. The ex-parte order upholding penalty order passed u/s 271B of the I. T. Act, 1961, is void ab-initio:, inasmuch as, no specific charge was communicated vide the show cause notice, prior to levy impugned penalty of Rs. 1,50,000/- 04. The appellant was prevented by a reasonable and sufficient cause for delayed obtaining of tax audit report Learned lower authorities have failed in not appreciating the reasons assigned for delayed obtaining .....

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....accepted by AO. The AO took his view that the assessee was required to get its books of account audited on or before 30-09-2012. The assessee was regularly getting its books of account audited since long and this fact was very well aware to the partners of the firm. The books of account of assessee was maintained and monitored by firm of Chartered Accountants. The assessee failed to adduce any evidence which prevented them to get its books of account audited within the stipulated / prescribed period. Therefore, the AO took his view that he was satisfied that assessee failed to get its books of account audited before specified date without any reasonable cause and levied minimum penalty of Rs. 1.5 lakhs vide his order dated 24- 09-2015. On a....

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.... decision of Hyderabad Tribunal in ACIT vs Gayatri Travels 56 TTJ 303 (Hyd)(SB). 5. We have considered the submission of both the parties and perused the material placed before us including the assessment order, penalty order u/s 271B and the order of Ld. CIT(A). There is no dispute that due date for filing return of income for AY 2012-13 was 30-09-2012. As per the provisions of the Act, the assessee was required to get its books of account on or before 30-09-2012 for the assessment year under consideration i.e prior to due date of filing the return of income. The assessee filed its return of income for the year under consideration on 30-11-2012. The books of account were audited only on 27-11-2012. The AO issued show cause notice u/s....