9911796707
TMI Blog2024 (1) TMI 1138X X X X Extracts X X X X X X X X Extracts X X X X ..... oss total income disclosed by the petitioner in the return of income was accepted in order dated 09.03.2023 and the fact that the total tax liability of Rs. 3,68,906/-, as disclosed in the return of income, was also accepted in order dated 09.03.2023, this is a fit case to condone the delay of 30 days in filing the application for immunity from imposition of penalty. Therefore, the delay is condoned. Under reporting of income - As per clause Sub section 6 (a) of Section 270A the amount of income in respect of which the assessee offers an explanation, which is accepted as bona fide is liable to be excluded provided all material facts were disclosed. This case appears to fall within the scope of clause (a) of sub-section 6 of Section 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 148 A (b) of the Income Tax Act, 1961, (the Income-tax Act), the petitioner filed his return of income for the Assessment Year 2018-19 by disclosing the gross total income of Rs. 19,81,237/-. In such return, the net tax payable was shown as Rs. 3,68,906/- and the total tax paid was shown as Rs. 3,78,904/-, which comprises TDS at Rs. 3,78,864/- and a sum of Rs. 40/- paid as self-assessment tax. The petitioner's return was examined and the net tax liability was computed at Rs. 3,68,906/- on the gross income of Rs. 19,81,237/-. After adding a sum of Rs. 10,000/- towards default in filing the return of income, the aggregate tax liability was computed at Rs. 3,78,906/-. A sum of Rs. 3,78,864/- was credited towards pre-paid taxes and a sum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3,78,864/-. If the entire sum of Rs. 3,78,904/- had been taken into consideration, learned counsel contended that only a sum of Rs. 2/- would have been payable by the assessee even after reckoning the fee for default in furnishing the return of income. 5. By taking into account the fact that the gross total income disclosed by the assessee was accepted in order dated 09.03.2023 and the fact that the tax liability was discharged in full both by way of TDS and self assessment tax, learned counsel submitted that this is a fit case for granting immunity from imposition of penalty under Section 270 AA. As regards the delay in filing the application, learned counsel submitted that such delay is for a period of about 30 days and could have be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the imposition of penalty, learned counsel referred to sub section 3 of Section 270 A and, in particular, clause (b) thereof and pointed out that the entire assessed income is required to be treated as under reported income if the return of income is filed for the first time under Section 148. Consequently, he submits that the computation of penalty was also in consonance with statutory prescription . Hence, it is submitted that no interference is warranted. 7. The documents on record disclose that the petitioner filed the return of income for Assessment Year 2018-19 on 27.04.2022. Such return of income was filed after the petitioner received notice under Section 148 A (b) of the Income-tax Act. In the return of income, the gross total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted, the application should have been filed on or before 30.04.2023. Instead, the application was filed on 31.05.2023. The delay is about one month beyond the stipulated period. By taking into account the fact that the gross total income disclosed by the petitioner in the return of income was accepted in order dated 09.03.2023 and the fact that the total tax liability of Rs. 3,68,906/-, as disclosed in the return of income, was also accepted in order dated 09.03.2023, this is a fit case to condone the delay of 30 days in filing the application for immunity from imposition of penalty. Therefore, the delay is condoned. 9. Turning to the order imposing penalty, the said order proceeds on the basis that the assessed income is Rs. 18,18,870/- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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