2024 (3) TMI 427

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....A, JM The appeal filed by the assessee is directed against the order dated 26.09.2023 of the Ld. Commissioner of Income Tax (Appeals), NFAC, Delhi ["CIT(A)"] whereby he confirmed the penalty of Rs. 1,50,000/- imposed by the Ld. Assessing Officer ("AO") u/s 271B of the Income Tax Act, 1961 (the "Act") for Assessment Year ("A.Y.") 2013-14. 2. The assessee is an individual who is engaged in the....

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.... the disposal of the quantum first appeal, the Ld. AO issued show cause notice on 11.02.2019. The Ld. AO imposed the impugned penalty for want of compliance by the assessee vide order dated 29.03.2019 u/s 271B of the Act. 4. The appeal filed by the assessee has been dismissed by the Ld. CIT(A). This has brought the assessee before the Tribunal. 5. The appeal was called for physical hearing b....

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....eport in time. Section 44AB casts an obligation upon the assessee to get accounts audited before the specified date and furnish by that date the report of such audit. It is not the case of the Revenue that the original return e-filed on 04.10.2013 was not within time prescribed u/s 139(1) of the Act. Section 139(5) of the Act permits an assessee to file revised return before the completion of asse....