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TMI Blog2021 (1) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... es peak balances has to be taken. It cannot be said that the deposits in question are the turnover of the assessee. Consequently it is not clear as to whether the assessee was required to maintain books of account under the Act or not. Penalty levied u/s 271B - AO states that the assessee does not maintain books of account. Where the conclusion of the AO is that the assessee does not maint ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d from sufficient cause from appearing before the AO. Penalty levied u/s 271(1)(b) in the case of Smt. Chandana Mai is also cancelled as she was prevented by sufficient cause from appearing before the AO on a particular date. She did appear before the AO on 15.07.2014, as recorded in the assessment order. Hence, we allow this appeal. - I.T.A. Nos. 349-351/Kol/2020, I.T.A. No. 352/Kol/2020 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the argument the ld. D/R defined that, the assessee has presented himself before the AO on two occasions i.e. on 16.07.2014 and 03.11.2014. Later he did not present himself before the AO. The ld. CIT(A) has passed an ex-parte order for non-appearance of the assessee. 4. The ld. CIT(A) has not disposed off the case on merits. As this is a small matter, we dispose off this appeal on merits. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly. In all such cases peak balances has to be taken. It cannot be said that the deposits in question are the turnover of the assessee. Consequently it is not clear as to whether the assessee was required to maintain books of account under the Act or not. 6. Coming to the penalty levied u/s 271B of the Act. We find that the AO states that the assessee does not maintain books of account. Wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prevented by sufficient cause from appearing before the AO on a particular date. Otherwise he did appear before the AO on two dates and hence the penalty is cancelled as the assessee was prevented from sufficient cause from appearing before the AO. Hence we allow ITA No. 350/Kol/2020. 6.3. Similarly the penalty levied u/s 271(1)(b) of the Act in the case of Smt. Chandana Mai in ITA No. 352/Kol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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