2019 (2) TMI 1820

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..... proceedings were attended by Shri Sanjay Jain, CA with whom the case was discussed. Since the assessee has furnished requisite details for completion of assessment by compliance of statutory notices issued by the Assessing Officer and the assessment has been completed u/s 143(3), therefore, under the facts and circumstances of the case it is not a fit case for levy of penalty u/s 271(1)(b) of the Act. Therefore, set aside the order of the CIT(A) and direct the Assessing Officer to cancel the penalty so levied. The grounds raised by the assessee are accordingly allowed.
SHRI R.K. PANDA, ACCOUNTANT MEMBER For the Assessee : Shri Sanjay Jain, CA For the Revenue : Shri S.L. Anuragi, Sr.DR ORDER This appeal by the assessee is directed aga .....

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..... the assessee. Later on the case was transferred to this office due to change of jurisdiction. Thereafter statutory notices U/s 142(1) issued and complied with by the assessee. The information/details asked for have been furnished, discussed-and placed on record. The assessment proceedings were attended by Shri Sanjay Jain, CA with whom the case was discussed. After discussion, assessment is completed at returned Income of ₹ 3,10,660/-. Assessed, Issue requisite document alongwith a copy of this order to the assessee. Charge penal interest as per IT Act." 6. He submitted that assessment in the instant case has been completed u/s 143(3). The assessee has filed the requisite details before the Assessing Officer, therefore, no penalt .....

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..... rther, the Assessing Officer, in the body of the assessment order has mentioned that the assessee has complied with the statutory notices issued u/s 142(1) and the information/details asked for have been furnished which were discussed and placed on record. He has further mentioned that the assessment proceedings were attended by Shri Sanjay Jain, CA with whom the case was discussed. Since the assessee has furnished requisite details for completion of assessment by compliance of statutory notices issued by the Assessing Officer and the assessment has been completed u/s 143(3), therefore, under the facts and circumstances of the case, I am of the considered opinion that it is not a fit case for levy of penalty u/s 271(1)(b) of the Act. I, the .....

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