2023 (4) TMI 696

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....For the Respondent : Mr. Asim Choudhury, 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 f....

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....y the Finance Act, 2012 with effect from 01.07.2012. Admittedly, 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 Offi....

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....e Assessing Officer by relying on the amended provisions of section 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 ma....

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...., the AO has already levied penalty u/s 271BA of the Act. From the above undisputed fact, it is seen that 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....