2024 (6) TMI 1025

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....STHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [in short 'the CIT(A)] dated 04.11.2023, for Assessment Year 2017-18, confirming levy of penalty u/s. 272A(1)(d) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). 2. Shri Pratap Gupta, appearing on behalf of the assessee submits tha....

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....he basis of detailed explanation the AO accepted returned income of the assessee. Further, the ld. AR vehemently opposing penalty order submits that AO has not recorded any satisfaction for levy of penalty u/s. 272A(1)(d) in the assessment order. The ld. AR placed reliance on the decision in the case of Globus Infocom Ltd. Vs. DCIT in ITA No. 738/Del/2014 for AY 2010-11 decided on 29.06.2016, to c....

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.... 142(1) of the Act. Therefore, date of penalty order is prior to the date of assessment order. The penalty was levied for non compliance of the notice; hence, there was no requirement for AO to record satisfaction for levy of penalty in assessment order. 4. We have heard the submissions made by rival sides and have examined the orders of authorities below. The assessee is in appeal against the or....