2024 (2) TMI 1433

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....try, Sr. D.R. ORDER PER BENCH: The 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 Ye....

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....ed an appeal to the learned CIT (A) who has confirmed 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 ....

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.... Act as per the provision of Section 273B of the Act. The relevant 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, ....