2023 (4) TMI 361

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.... ORDER PER N.K. CHOUDHRY, JM: The Assessee has preferred the instant appeal against the order dated 04.07.2019 impugned herein, passed by the Ld. Commissioner of Income tax (Appeals)-11, New Delhi (in short "Ld. Commissioner") u/s 250 of the Income-tax Act,1961 (in short "the Act"), pertaining to the assessment year 2011-12. 2. In the instant case the Assessee declared its total taxable i....

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....t and therefore it was held by the AO that Assessee has no supporting vouchers for the expenses and purchases debited by it. The AO finally made the disallowance of Rs. 34,58,139/- @ 10% of the purchases and Rs. 1,000/- which was debited as donation in the P&L A/c and the amount of Rs. 3,04,197/- as disallowance @ 50% of the expenses to the tune of Rs. 6,08,395/-, as claimed in his P&L A/c by the ....

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....1.3.2018 imposed the penalty to the tune of Rs. 1,50,000/- u/s 271B of the Act. The said penalty was affirmed by the learned Commissioner, against which the Assessee is in appeal before us. 4. Though notice of hearing of this appeal was sent to the Assessee for the date of hearing on 30.01.2023 through speed post at the address furnished in form no. 36, however, the same has been returned by th....

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....return are the same and only the Auditor's report was left to be endorsed with the original return by mistake. 5.1 We have given thoughtful consideration to the peculiar facts and circumstances of the case and orders passed by the authorities below. For imposition of penalty u/s 271B of the Act , the following conditions are enumerated in Section 271B of the Act: "If any person fails t....