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2016 (11) TMI 1609 - ITAT CHENNAILevy of penalty u/s. 271AAA - due date of filing Return of income u/s. 139(1) has already expired before the search - HELD THAT:- The search u/s. 132 was conducted on 26.08.2008 and the due date of filing the Return of income of assessee is 31.07.2008 and the assessee has filed the Return of income on 17.10.2008, which is after the due date of Return of Income u/s. 139(1) and in compliance to the provisions of section 271AAA. The specified the previous year applicability for the year ended is 31.03.2008 and the present assessment year being assessment year 2008-09, and the due date u/s. 139(1) being 31.07.2008 and whereas search u/s. 132 took place on 26.08.2008 and the due date of filing Return of income u/s. 139(1) has already expired before the search. Hence, the penalty cannot be initiated. CIT(A) does not have the power to give directions to levy penalty u/s. 271AAA on undisclosed income. Since, the orders of the Assessing Officer on penalty merged with the appellate authority, we are of the opinion that order of CIT(A) cannot be sustained and in the interest of justice, we dismiss the order of CIT(A) and allow the grounds of the assessee.
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