2022 (1) TMI 835

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s : G. Johnson, Addl. CIT ORDER Per V. Durga Rao, Judicial Member The appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals)-19, Chennai dated 23.06.2019 relevant to the assessment year 2013-14. 2. Facts are, in brief, that the assessee is an individual and carrying on business of trading of bus body materials in the name of M/s. Om M....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sessing Officer noted that there is a delay of fifteen months in filing the audit report. Since the assessee has not given any satisfactory reply and the assessee has not discharged its onus of proof with evidences for the inordinate delay of fifteen months in filing the audit report, the Assessing Officer levied penalty under section 271B of the Act at Rs. 1,50,000/-. On appeal, the ld. CIT(A) co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the first year in which the income tax assessment of the assessee and the compulsory audit provisions under section 44AB of the Act are attracted. It was further submitted that the assessee was able to get the search proceedings completed only in the month of March, 2013 for the assessment years 2007-08 to 2011-12 and mainly due to this, the assessee's filing of subsequent year's return of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....03.2011. It is also a fact that the assessee filed the return of income belatedly only on 01.01.2015 for the assessment year 2013-14. It is also a fact that the assessee is also a partner in various firms, wherein, search was conducted and books of accounts were taken under the custody of the Department. The delay was caused due to search conducted by the Department and the books of accounts are n....