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2019 (6) TMI 280 - ITAT CHANDIGARHPenalty u/s 271BA - non furnishing of Report u/s 92E - assessee did not upload the Form No. 3CEB alongwith the return - whether failure to upload the Report was not intentional? - proof of bonafide mistake - HELD THAT:- In the facts of the present case, admittedly the assessee failed to upload Form No. 3CEB in terms of the statutory requirement. The Statute requires in terms of Section 92E that the report from an Accountant be filed in regard to the international transactions or specified domestic transactions. Law makers have used the words “may” and not “shall”, thereby making their intentions clear in as much that levy of penalty is discretionary and not automatic. The said conclusion is further justified by Section 273B of the Income Tax Act, 1961. We find that nothing has been placed before us to show that either the assessee is a habitual defaulter or that no explanation has been offered or for that matter, the explanation offered is false. No plausible reasons have been given by the Revenue why the explanation offered cannot be accepted. It is seen that the ld. CIT(A) has proceeded as though the levy of penalty is automatic. In the facts of the present case, we find that admittedly the assessee has failed to upload electronically Form No. 3CEB. Accepting the bonafide explanation consistently offered, we accept the same as an unintentional bonafide mistake. Being satisfied by the explanation offered by the assessee after considering the position of law as applicable, we hold that it was a case of bonafide mistake - Decided in favour of assessee.
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