2024 (2) TMI 1433

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.... captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax (Appeals), Jamnagar [Ld. CIT(A) in short] dated 16/05/2018 arising in the matter of penalty order passed under s. 271B of the Income Tax Act, 1961 (hereinafter referred to as "the Act") dated 29/06/2017 relevant to the Assessment Years (A.Y.) 2009-10. 2. The effective issue....

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....rmed the order of the AO. Being aggrieved by the order of the learned CIT-A, the assessee is in appeal before us. 6. The learned AR before us submitted that the assessee is a commission agent and therefore the amount of commission earned by him should be construed as turnover of the business which is an amount of Rs. 3,46,985/- only. 7. On the other hand the learned DR vehemently supported the ....

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....elevant section is reproduced as under:- "[Penalty not to be imposed in certain cases. 273B. Notwithstanding anything contained in the provisions of [clause (b) of sub-section (1) of] [section 271, section 271A, [section 271AA,] section 271B [, section 271BA], [section 271BB,] section 271C, [section 271CA,] section 271D, section 271E, [section 271F, [section 271FA,] [section 271FB,] [section ....