2023 (8) TMI 219

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.... ORDER PER:SANJAY ARORA, AM This is an Appeal by Assessee agitating the confirmation of penalty under section 271B of the Income Tax Act, 1961 ('the Act') levied vide order dated 14.01.2022 for Assessment Year (AY) 2017-18 by the National Faceless Appeal Centre (NFAC), Delhi ('CIT(A)') vide order dated 23.11.2022. 2. The assessee, a co-operative bank registered under the Kerala Cooperative Soci....

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....e same did not explain the late filing of Tax Audit Report in Form 3CA, i.e., from the Tax Auditor. The filing of the TAR is independent of the filing of the return of income. The assessee reiterated it's case in first appeal, whereby it was observed that the assessee had not furnished the requisite details, much less substantiating the same, viz. the date on which the Cooperative Auditor signed t....

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....ny, the assessee's counsel, during the hearing, who would rather admit to the statutory audit report from the Registrar of Societies, which is also to be filed by the date specified u/s. 44-AB,to have been not furnished at all. The record (PB-1) shows the same to have been obtained on 26.2.2018. The question of explaining the delay by the assessee would arise only where it is furnished with a dela....