TaxTMI 
TaxTMI 
2024 (9) TMI 79
X X X X Extracts X X X X
X X X X Extracts X X X X
....see, however, all these relate to the order of the CIT(A) / NFAC in confirming the penalty of Rs. 55,574/- levied by the Assessing Officer u/s. 271B of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') by not condoning the delay of 171 days in filing of the appeal. 3. Facts of the case in brief, are that the assessee is a firm engaged in trading activity of Kernals of cashew after grading and repackaging. Since the assessee had not filed its return of income for the impugned assessment year, the case of the assessee was reopened and the assessment was completed u/s. 144 of the Act. Since the assessee has failed to get its accounts audited as per the provisions of section 44AB of the Act, the Assessing Officer levied penalty o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s not furnished any sufficient cause for not filing the appeal in time. 9. We have heard the rival arguments made by both the sides and perused the orders of the Assessing Officer and Ld. CIT(A) / NFAC. We find the Ld.CIT(A) / NFAC dismissed the appeal filed by the assessee challenging the levy of penalty u/s. 271B of the Act on the ground that there was a delay of 171 days in filing of the appeal by the assessee and the assessee could not explain any reasonable cause for not filing the appeal in time. We find the Tribunal in assessee's own case in quantum proceedings has condoned the delay of 727 days in filing of the appeal before the CIT(A) / NFAC and restored the issue to his file for deciding the appeal on merit by observing as under:....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y of Rs. 61,413/- levied by the Assessing Officer u/s. 271AAC of the Act. 12. After hearing both the sides, we find the Assessing Officer in the instant case levied the penalty of Rs. 61,413/- u/s. 271AAC(1) of the Act @ 10% of tax payable on the addition of Rs. 7,95,000/- made u/s. 69A of the Act. Since there was a delay of 232 days in filing of the appeal before the CIT(A) / NFAC, the Ld.CIT(A) / NFAC did not condone the delay on the ground that the assessee could not explain to his satisfaction regarding the reasons for such delay. 13. Aggrieved with such order of the CIT(A) / NFAC, the assessee is in appeal before the Tribunal. 14. After hearing both the sides, we find the grounds raised by the assessee in the instant appeal are iden....