TaxTMI 
TaxTMI 
2023 (4) TMI 696
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....ry, Adv., Mr. Soham Sen, Adv. ORDER This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act, for brevity) is directed against the order dated 22nd November, 2018 passed by the Income Tax Appellate Tribunal 'B' Bench, Kolkata (Tribunal) in ITA No.1992/Kol/2017 for the assessment year 2011-12. The revenue has raised the following substantial question of law for co....
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....dmittedly, the assessment year under consideration is 2011-12. The Tribunal took note of the said fact and held in favour of the assessee by assigning the following reason:- "5. A perusal of the penalty order passed by the Assessing Officer in the present case shows that the penalty under section 271AA was imposed by the Assessing Officer in the case of the assessee for A.Y. 2011-12 for the fail....
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....ection 271AA was not sustainable. We accordingly uphold the impugned order of the ld. CIT (Appeals) cancelling the penalty imposed by the Assessing Officer under section 271AA and dismiss this appeal of the Revenue." A perusal of the order passed by the Commissioner of Income Tax (Appeals) - 16, Kolkata [CIT(A)] dated 6th July 2017 makes the position much clearer. Relevant portion of the order pa....
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....the Assessing Officer wrongly applied the amended Section 271AA which is effective from the assessment year 2012-13. That apart, for the delay in furnishing an information, the same could be covered under Section 271G of the Act. However, the Assessing Officer dropped the proposal to impose penalty under Section 271G of the Act. Further, for non-filing of Form-3CEB as per Section 92E of the Act wi....