2020 (1) TMI 1715

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....RI A.T. VARKEY, JM: This appeal preferred by the assessee against the order of Ld. CIT(A)-Burdwan dated 20-12-2018 for the assessment year 2010-11. 2. At the outset, it has been brought to our notice that the appeal of the assessee is against the action of the Ld. CIT(A) in confirming the penalty u/s. 271A/271B of the Income-tax Act, 1961 (hereinafter referred to as the "Act") of an amount o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ailing to get the accounts audited as required u/s. 44AB of the Act. Thereafter by penalty order u/s 271B of the Act dated 29.01.2018, the AO levied penalty of Rs. 1,50,000/- of the Act. Aggrieved, the assessee preferred an appeal before the Ld. CIT(A) who confirmed penalty also under section 271A as well as u/s 271B of the Act. Aggrieved, the assessee is before us. 4. We have heard rival submi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the assessment order that no books of account were maintained by the assessee. Under such circumstances, a question arises as to whether any penalty can be imposed u/s. 271B for not getting the books of account audited. The Hon'ble Gauhati High Court in Suraj Mal Parasuram Todi vs. CIT (1996) 222 ITR 691 (Gau) has held that where no books of account are maintained, penalty should be imposed for....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ave been levied because the assessee admittedly did not maintain any books of account as has been recorded in the assessment order itself. We, therefore", order for the deletion of penalty." 5. Respectfully following the ratio in Nirmal Kumar Jain (supra), of the Tribunal & taking note of the ratio laid by the Hon'ble High Courts mentioned in that order, we are of the opinion that penalty u/s 2....