9911796707
TMI Blog2023 (8) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... the valid reasons for delay in filing the tax audit report. There is a sufficient reason for delay in submitting the tax audit report before the authority. Accordingly, the penalty u/s 271B is liable to be deleted. Decided in favour of assessee. - Dr. M. L. Meena, Accountant Member And Sh. Anikesh Banerjee, Judicial Member For the Appellant : Sh. Sudhir Sehgal, Adv. For the Respondent : Smt. Ratinder Kaur, Sr. DR ORDER PER : ANIKESH BANERJEE, JM: The instant appeal of the assessee was filed against the order of the ld. Commissioner of Income Tax (Appeals)-5, Ludhiana,[in brevity the CIT (A) ],order passed u/s 250 (6) of the Income Tax Act 1961, [in brevity the Act ] for A.Y. 2017-18. The impugned order was em ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he counsel dealing with the tax matter. In view of the above stated facts the assessee was under bonafide belief that Tax Audit Report has been uploaded by the Tax Auditor since he had already audited the books of account within the time prescribed under section 44AB. The above stated bonafide belief of the assessee amounts to sufficient cause as provided u/s 273B of the Act. It is most humbly prayed, the penalty-imposed u/s 271B of the Act may kindly be deleted and appeal be decided. 4. The ld. AR further placed that only reasons of delay in filing tax audit report was the change of auditor. In the impugned assessment year, the assessee changed the auditor and under due impression the audit report was filed within due date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue to the fact that for earlier year [i.e. AY 2014-15] the audit report could not be completed on time and could be completed only on 23-03-2016. This happened because the accountant of the assessee, who used to handle the accounts had suddenly left the office/service in earlier year without properly handing over the books maintained by the assessee. We are of the opinion that the explanation given by the assessee cannot be held to be unreasonable. We note that in a similar case, where facts and circumstances of the case was same, the Ahmedabad Bench of this Tribunal in the case of Kamlesh R. Agarwal (HUF) (supra) has given relief to the assessee by holding that delay in getting accounts of the earlier year can be reasonable ground as stipu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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