2025 (2) TMI 1862

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.... For the Revenue : Shri Srinath Sadanala, Sr. AR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 11/09/2024 passed by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi ("learned CIT(A)"), in the case of Venkateswara Rao Vaditya ("the assessee"), assessee preferred this appeal. 2. Assessee is running a petrol bunk. For the assessmen....

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....covered from the ill health, ITR and the tax audit report for filed on 27/11/2017. 3. Both the authorities, namely, learned Assessing Officer and the learned CIT(A) are of the opinion that since the lapse is admitted, the liability of the assessee under section 271B of the Act is crystallized in terms of section 44AB or section 271B of the Act and there is no escape of the assessee from the lia....

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....-Operative Consumer's Cooperative Stores Ltd vs. ITO in ITA No. 1065/Chny/2019 by order dated 29/12/2020 wherein it was held that ill-health of the key person constitutes sufficient reason and the availability of the same before the date of completion of the assessment proceedings should also be considered. 6. Learned DR placed heavy reliance on the orders of the authorities below and submitted....

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....g the same was 7/11/2017 resulting in a delay of 14 days. According to the learned CIT(A) in respect of the reason for delay, the delay itself automatically ends up in levy of penalty. Though learned CIT(A) recorded that there is no dispute about the fact that the audit report was not obtained before the specified date and the assessee failed to comply with the requirements of law, the Form 3CB pr....