2024 (6) TMI 857

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....ase as required u/s 44AB of the Act. 2. The ld. counsel for the assessee submitted that there is a clerical and inadvertent mistake occurred in filling the columns in the ITR, while filing the return of income due to inadvertent mistake in answer to questions "Are you liable to maintain accounts as per section 44AA? and Are you liable for audit under section 44AB?, were unfortunately given in negative i.e. "No" in place of correct answer to be given as "Yes". The ld. AR contended that this advertent mistake has been inferred adversely by the learned A.O. for the purpose of levy of present penalty u/s 271B of the Act. However, the AO on the contrary the fact regarding maintenance of regular books of account has been duly accepted by the AO.....

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....his return inadvertently filled the column regarding details of the audit u/s 44AB wrongly as no and so penalty u/s 271B would not be leviable. 3. Per contra, the ld. DR supported the impugned order. 4. We have heard the rival contentions, perused the material on record, impugned order and case law cited before us. Admittedly, the appellant assessee has obtained the tax audit report as required u/s 44AB of the Act on 28.09.2011 and e-filed its e-return of income before due date on 29.09.2011 wherein inadvertently he filled wrong information while filling the columns of audit report. However, the tax authorities have rejected the said explanation on the reasoning that no audit was made by the appellant as required u/s 44AB and no evidence ....

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....he assessee has duly furnished, all the details under "Part A-Ol " of the return of income, meaning thereby, there appears to be some truth in the submission of the assessee that it has obtained the tax audit report before the due date for filing return of income. Our view is further fortified with the fact that the audit under the Companies Act and under sec. 44AB of the Act was conducted by the very same auditor and he has confirmed the said fact by filing an affidavit before us. Hence, on a holistic consideration of the facts surrounding the issue, we are of the view that the assessee could have obtained the audit report u/s 44AB of the Act before filing the return of income and it has inadvertently filled the relevant column wrongly as ....