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2014 (9) TMI 499 - HC - Income TaxPenalty u/s 271FA – Protection u/s 273B - Proper information not furnished by assessee – delay in furnishing the requisite AIR information by the appellant - bonafide ignorance - Limitation u/s 275(1)(c) – Held that:- The plausible explanations in terms of Section 273B of the Act in the cases of Sub Registrar, Talwandi Saboo, Sub Registrar, Lambi, Sub Registrar, Malout, Sub Registrar, Maur Mandi, Sub Registrar, Doda and Sub Registrar, Rampura Phul are also similar and therefore, the levy of penalty under Section 271FA of the Act cannot be faulted. The Joint Sub Registrar is also the prescribed authority for the sub-district in terms of sections 6 and 7 of the Registration Act, 1908. In the absence of any factual foundation having been laid before the Assessing Officer, the CIT(A) and the Tribunal regarding the levy of penalty on the Joint Sub Registrar, Sangat, the said plea raised for the first time before the High Court would not be permissible. Equally, the plea of no notice having been issued under Section 285BA(4) of the Act in ITA No.47 of 2014 to Sub Registrar, Malout loses significance in the absence of such contention having been raised before the authorities below. Assessee relies upon Price Waterhouse Coopers (P.) Ltd. Versus Commissioner of Income-tax, Kolkata [2012 (9) TMI 775 - SUPREME COURT] - There was also no question of the assessee furnishing any inaccurate particulars. It was further noticed that the action of the assessee was bonafide and due to inadvertent error for which no penalty under Section 271(1)(c) of the Act could be imposed. The factual matrix being different in the present appeals, the learned counsel for the appellant cannot derive any benefit therefrom. - Decided against assessee.
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