2022 (12) TMI 681

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.... tax return under section 139(4) of the Act. 2. This is the second round of proceedings before the Tribunal. The sole issue involved in all these appeals is regarding challenging the penalty imposed by the AO under section 274F of the Act . 3. The brief facts of the case are that the assessee filed his return of income for all the assessment years as per section 139(4) of the Act. The details of the income tax filed are as under: Sl. No. Assessment Year Due date to file return of income under section 139(1) of the Act Date of filing of Return of Income Returned income as per Return of Income Income Tax Paid 1. 2012-13 31/08/2012 07/12/2013 1,89,710/- 1160/- 2. 2013-14 05/08/2013 21/11/2014 2,13,630/- 1630/- 3. 2014-15 ....

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....ion of the Coordinate Bench of the Tribunal dismissed the appeal of the assessee. The relevant part of the order is as under: "I have perused the facts as well as argument taken on behalf of the appellant. Since, the appellant had taxable income therefore he was under obligation to file regular return of income which has not been done. As the assessee's total income exceeded the maximum amount not chargeable to tax, for the said assessment year, the assessee was required to file the return of income within the due date specified u/s139(1) of the Income Tax Act,1961. The appellant failed to furnish valid explanation as to the reasonable cause for the said default. Further, the appellant had committed similar default for the other asses....

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....he Act is an expressed provision and the assessee did not file his return of income within the prescribed time limit as per section 139(1) of the Act and the income was above the taxable limit. Therefore, he is liable for penalty under section 271F of the Act. There was no reasonable cause mentioned by the assessee before the authorities below as well as the before the Tribunal. He also submitted that there is no time limit for issue of notice for penalty under section 274 r.w.s. 271F of the Act and the penalty order passed by the AO was well within the time after issue of notice. Therefore, the contention of the assessee challenging the legal issue will not survive. The learned DR also submitted that the assessee is a regular defaulter. In....