TaxTMI 
TaxTMI 
2023 (7) TMI 1273
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.... from the penalty order dated 29/10/2021, passed under section 271B of the Act. 2. In its appeal, the assessee has raised the following grounds:- "1. The Assessing Officer has erred in treating the appellant's case as one where no Tax Audit Report is filed. 2. The Assessing Officer has not considered the reasons for delay in filing the Audit Report as per the response of the appellant. 3. The Assessing Officer is not justified in saying that the appellant has not responded to the Show Cause Notice dated 12-08-2021 as the appellant could not file his response due to glitches in the Income Tax Portal. 4. The Assessing Officer even when the final Show Cause Notice is not responded to should have considered the communication given ....
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.... of the case as emanating from the record are: For the year under consideration, the assessee e-filed its return of income on 30/03/2019 declaring a total loss of Rs. 58,03,371. The return filed by the assessee was selected for scrutiny and statutory notices under section 143(2) as well as section 142(1) of the Act were issued and served on the assessee. In response to the notice, the assessee filed its submissions. On the basis of material available on record, the Assessing Officer ("AO") vide order dated 16/03/2021 passed under section 143(3) read with sections 143(3A) & 143(3B) of the Act accepted the explanation provided by the assessee and assessed the total income at Rs. Nil. Since the assessee has filed the return belatedly, the loss....
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....n 03/10/2017, while the other director was not active in the business. The learned AR further submitted that the director who expired was also an accountant and was well-versed with all the aspects of the company and therefore due to the demise of the said director not only the tax audit report was filed belatedly but the return of income was also filed late. 8. On the other hand, the learned Departmental Representative vehemently relied upon the order passed by the lower authorities. 9. We have considered the submissions of both sides and perused the material available on record. In the present case, it is undisputed that the assessee filed its return of income belatedly on 30/03/2019. From the perusal of the notice dated 20/01/2021 issu....