9911796707
TMI Blog2022 (9) TMI 582X X X X Extracts X X X X X X X X Extracts X X X X ..... ties below, we find that it is the case of the assessee that tax audit report under section 44AB of the Act was not filed before the due date of filing the same, but it was filed belatedly. Moreover, it is also not the case of the assessee that the accounts were not audited by the auditor within the prescribed time. The tax audit report was obtained well within the stipulated due date apart from mentioning of the same in the returns filed by the assessee. Considering the explanations that the assessee was prevented by reasonable cause for the delay in filing the tax audit report under section 44AB of the Act, we are of the considered opinion that the penalty levied u/s 271B is liable to be deleted. Accordingly, the penalty levied u/s 271 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re. The assessee is, thus, covered by the provisions of section 44AB of the Act and required to file the return of income along with audit report of accounts in 3CB Form on or before the due date of filing of return under section 139(1) of the Act. Since the assessee has failed to comply with the provisions of section 44AB of the Act, the Assessing Officer levied penalty under section 271B of the Act for both the assessment years. On appeal, the ld. CIT(A) confirmed the penalty levied under section 271B of the Act for both the assessment years. 4. On being aggrieved, the assessee is in appeal before the Tribunal. None appeared on behalf of the assessee despite various opportunities afforded from 16.01.2019. Hence, we proceed to decide th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cribed time and copies were also furnished before the Assessing Officer. On perusal of the orders of authorities below, we find that it is the case of the assessee that tax audit report under section 44AB of the Act was not filed before the due date of filing the same, but it was filed belatedly. Moreover, it is also not the case of the assessee that the accounts were not audited by the auditor within the prescribed time. The tax audit report was obtained well within the stipulated due date apart from mentioning of the same in the returns filed by the assessee. Considering the explanations that the assessee was prevented by reasonable cause for the delay in filing the tax audit report under section 44AB of the Act, we are of the considered ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
