9911796707
TMI Blog2024 (6) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... the reasoning that no audit was made by the appellant as required u/s 44AB and no evidence or submissions are filed whereas such audit report, duly certified by the auditor with the support of an affidavit, has been filed on record. In the affidavit, the auditor has stated the fact that he has prepared the audit report on 28.09.2011 and a copy of said letter was also provided to the bank. Appellant contended that the required audit report as prescribed u/s 44AB was duly obtained by the appellant will within the prescribed time and filed before the authorities below. Thus, it was due to inadvertent mistake occurred in respect of selection of the proper column of the ITR while filing the return of income by the office of the auditor which has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in negative i.e. No in place of correct answer to be given as Yes . The ld. AR contended that this advertent mistake has been inferred adversely by the learned A.O. for the purpose of levy of present penalty u/s 271B of the Act. However, the AO on the contrary the fact regarding maintenance of regular books of account has been duly accepted by the AO. Thus, the AO has adopted contradictory interpretation in respect of this inadvertent mistake as to his convenience and the ld. CIT(A) has confirmed the finding of the AO by holding that the non maintenance of books of account and non completion of audit u/s 44AB by ignoring the true facts of the case on record. The ld. counsel has further contended that the audit report dated 28.09.2011 was du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 44AB of the Act on 28.09.2011 and e-filed its e-return of income before due date on 29.09.2011 wherein inadvertently he filled wrong information while filling the columns of audit report. However, the tax authorities have rejected the said explanation on the reasoning that no audit was made by the appellant as required u/s 44AB and no evidence or submissions are filed whereas such audit report, duly certified by the auditor with the support of an affidavit, has been filed on record. In the affidavit, the auditor has stated the fact that he has prepared the audit report on 28.09.2011 and a copy of said letter was also provided to the bank. The ld. counsel for the appellant contended that the required audit report as prescribed u/s 44AB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... auditor and he has confirmed the said fact by filing an affidavit before us. Hence, on a holistic consideration of the facts surrounding the issue, we are of the view that the assessee could have obtained the audit report u/s 44AB of the Act before filing the return of income and it has inadvertently filled the relevant column wrongly as NO . Since the assessee could have obtained the tax audit report before the due date for filing return of income, in our view, there is no justification for levying penalty u /s 271B of the Act. Accordingly, we set aside the order of Ld CIT (A) and direct the AO to delete the penalty levied in the hands of the assessee u/s 271B of the Act. 6. In the present case, on identical facts the appellant assessee a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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