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TMI Blog2008 (2) TMI 291X X X X Extracts X X X X X X X X Extracts X X X X ..... ay in getting the account audited, had really not applied its mind as per the requisite parameters of law – tribunal ought to have recorded a finding whether assessee had acted deliberately in defiance of the provisions of section 44AB – case remanded - 109 of 2006 - - - Dated:- 4-2-2008 - DIPAK MISRA and R. S. JHA JJ. Mukesh Agrawal for the appellant. Sanjay Lal for the respondent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Act, 1961, for delayed filing of the audit account as required under section 44AB of the Act?" 4. The facts which are requisite to be stated are that the assessee, a co-operative society did not get its accounts audited as required under section 44AB of the Act by the competent authority. Because of the aforesaid fact situation the Assessing Officer imposed a penalty of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered in Biaora Constructions P. Ltd. v. CIT [2006] 287 ITR 112 (MP), wherein the Division Bench of this court, after referring the decisions rendered in Andhra Cements Co. Ltd. v. CIT [1998] 232 ITR 364 (AP) ; CIT v. Scindia Steam Navigation Co. Ltd. [1961] 42 ITR 589 (SC) and CIT v. S. Palaniswamy [1996] 219 ITR 380 (Mad), has expressed the view that the order imposing penalty for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified in refusing to impose penalty, when there is a technical or venial breach of the provisions of the Act or where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute. Being of this view in the aforesaid case it was held that it was obligation on the part of the Tribunal to record a finding whether the assessee had acted delibe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sons, we have no hesitation in holding that reversal of order of the first appellate authority by the Tribunal in non-ascribing any cogent and germane reason, as imperative in law, we are compelled to set aside the order of the Tribunal and remit the matter to it for reconsideration on the touchstone of the decision rendered in Biaora Constructions P. Ltd. [2006] 287 ITR 112 (MP). 8. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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