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TMI Blog2021 (3) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment proceedings. Hence, in the facts and circumstances of the case and in view of Section 273B of the Act when the assessee has finally complied with the notice issued by the Assessing Officer the penalty is not imposable as the explanation filed by the assessee was finally found to be correct and accepted in the quantum appeal. Consequently the penalty levied u/s. 271(1)(b) of the Act is deleted. - Decided in favour of assessee. - ITA No. 95/ALLD/2020 - - - Dated:- 25-2-2021 - SHRI. VIJAY PAL RAO , JUDICIAL MEMBER Appellant by : Shri Praveen Godbole , CA Respondent by : Shri A. K. Singh , CIT ( DR ) ORDER This appeal of the assessee is directed against the order dated 13.08.2020 of ld. CIT(A), Allahabad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e quantum appeal and submitted that the ld. CIT(A) has deleted the addition and accepted the explanation regarding the source of deposit made in the bank account. Thus, the ld. AR has pleaded that the penalty imposed by the Assessing Officer u/s. 271(1)(b) of the Act and confirmed by the ld. CIT(A) be deleted. 3. On the other hand, ld. DR has submitted that there is a default and non- compliance on the part of the assessee to the notice issued u/s. 142(1) dated 04.08.2018. The assessee has filed the reply belatedly and that after show cause notice issued by the Assessing Officer u/s. 144 of the Act. Thus, belated reply filed by the assessee cannot be considered as a compliance. He has relied upon the orders of the authorities below. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee is an evident from the assessment order and the Assessing Officer has considered the reply of the assessee as well as the confirmation and thereafter framed the assessment u/s. 147 r.w.s. 143(3) of the Act. After filing the reply, the Assessing Officer drop the proceedings u/s. 144 and framed the assessment u/s. 143(3) of the Act. Therefore finally the assessee complied with the notice issued u/s. 142(1) of the Act. Even otherwise in the penalty order, the Assessing Officer itself has given the details of the notice issued during the assessment proceedings and compliances made on behalf of the assessee as under: In this case, proceedings u/s 147 of the l.T. Act, 1961 was initiated after getting due approval of the ld. Pr. Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve table whereas the penalty was imposed on the ground that the above notices were not complied by the assessee. Further, the Assessing Officer has also stated that the assessee has not made compliance to the show cause notice issued u/s. 271(1)(b). However, that cannot be a ground for imposition of penalty u/s. 271(1)(b) of the Act. In the quantum appeal, the ld. CIT(A) vide its order dated 22.09.2020 has deleted the addition made by the Assessing Officer and therefore, it amounts to acceptance of the explanation of the assessee filed during the assessment proceedings. Hence, in the facts and circumstances of the case and in view of Section 273B of the Act when the assessee has finally complied with the notice issued by the Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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