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TMI Blog2021 (7) TMI 412X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 147 of the Act by issuance of notice dated 31.03.2013 under section 148 of the Act by Id; ITO, imposition of penalty under section 271(1)(b) by the Id. ITO for the alleged non-compliance on the part of the appellant, as also confirmed by the CIT(A) is wholly vitiated and bad in law. 2. BECAUSE, the observation made by the CIT(A) in the impugned penalty order dated 27.03.2019 being; "I have gone through the facts and the order of AO and submissions made by appellant, I am not able to agree with the submissions made by appellant. On perusal of the penalty order and also the corresponding assessment order, it is seen that the assessee has failed to make compliance with notices issue by the A.O. The assessment order has been framed u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .O was already sold. He has further submitted that the assessee has already settled the dispute of tax demand in the quantum appeal under the Vivad se Vishwas Scheme, 2020. The ld. A.R has submitted that there is a reasonable cause for non-compliance of notice issued by the A.O u/s 142(1) of the Income Tax Act and therefore, the penalty levied by the A.O u/s 271(1)(b) of Rs. 10,000/- is not justified and the same may be deleted. 3. On the other hand, the ld. D.R has submitted that the assessee had never furnished the current address to the A.O and therefore, the Assessing Officer was having the address which was given by the assessee. Once the notices were issued at the addresses given by the assessee then the assessee cannot take the plea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess. It is a case of reopening of the assessment for assessing the deposits made in the bank account of the assessee as the assessee was not having any other source of income to be declared in the return of income. Therefore, the non-compliance on the part of the assessee is due to the reason of not receiving the notice issued by the A.O. Once the assessee has settled his dispute arising from the quantum proceedings under Vivad se Vishwas Scheme, 2020 and explained the reasonable cause for default or failure in compliance of the notice issued by the A.O u/s 142(1) then the case of the assessee falls u/s 273B of the Income Tax Act. Accordingly, in the facts and circumstances of the case when the assessee has explained a reasonable cause for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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