TaxTMI 
TaxTMI 
2025 (3) TMI 1894
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....ed 24.04.2024 of the Ld. CIT(A) passed Under Section 250 of the Act, in first appeal which was preferred by the assessee in terms of Section 246 of the Act. The relevant Assessment Year is 2014-15 and the corresponding previous year period is from 01.04.2013 to 31.03.2014. 2. FACTUAL MATRIX 2.1 That the Income Tax Return of the assessee for the Assessment Year 2014-15 was filed as per the Provision of Section 139 of the Act on 01.11.2015 wherein total income was declared at Rs. 2,70,280/-. 2.2 That thereafter the case of the assessee was selected for scrutiny and assessment order U/s 143(3) of the Act was passed on 28.11.2016 wherein addition of Rs. 40,000/- was made to the total income of the assessee and that total income was ass....
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....ngly the Assessing Officer made addition of Rs. 9,99,752/- to the total income of the assessee after allowing credit of assessed income of assessee of Rs. 3,10,280/-. Thereafter the assessee preferred an appeal before Ld. CIT(A) against the assessment order passed u/s 147 r.w.s. 144B of the Act challenging the entire addition made to the total income. The said appeal was however decided by Ld. CIT(A) by order dated 01.01.2024 in favour of the assessee and reopening u/s 147 was held to be bad in law. 2.4 That after the aforesaid assessment order the Ld. Assessing Officer initiated and levied penalty of Rs. 81,900/- u/s 271B of the Act for failure to get accounts audited as is required u/s 44AB of the Act without properly appreciating the ....
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....smissed the appeal of the assessee. The assessee being aggrieved by the "impugned order" has preferred this second appeal U/s 253 of the Act before this Tribunal and has raised following grounds of appeal against the "impugned order" in Form No.36 which is form of appeal to this Hon'ble Tribunal:- "1. That on the facts and in the circumstances of the case and in law, penalty order passed by the Assessing Officer under section 271B of the Act was barred by limitation of time since the assessment order had already been quashed and set-aside by the Ld. CIT(A) 2. That on the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the penalty of Rs. 81,900/- levied by the Assessing Officer unde....
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....was invited to reply filed by the assessee in response to notice u/s 143(2) of the Act (Page 9-10 of paper book) wherein it was clearly brought to the notice of the revenue that assessee is small time commission agent. He sells vegetables in mandi as a commission agent and for and on behalf of farmers. That all sale proceeds are deposited in the bank account after sale is completed. That all payments to farmers are made from his bank account. That he gets 4 to 5% commission upon sales of vegetables in "Mandi". That during the year under consideration his income from commission was Rs. 7,50,000/-. His expenses were Rs. 4,79,725/-. That during the year under consideration total deposit in his ICICI Bank account which are two in number were Rs....
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....as contended that this Tribunal should not interfere with the impugned order. 4. Observations, findings & conclusions. 4.1 We now have to decide the legality, validity and proprietary of the "Impugned Order" of Ld. CIT(A) basis records of the case. 4.2 We have carefully perused records of the case and have examined the rival contentions of Ld. AR & Ld. DR. We are of the considered view that by having held as under in para 6.4 of the impugned order "6.4 The Ld. CIT, in his order, has clarified that the ground raised on merits are not decided upon, since the reopening of the assessment was held to be bad in law. The impugned order in the instant appeal is the order levying penalty u/s 271B of the Act. The penalty has been le....