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2014 (3) TMI 538 - ITAT DELHIPenalty u/s 271(1)(b) of the Act – failure to comply with the statutory notice u/s 142(1) - assessee sought the adjournment of the case to January/ February 2011 but AO refused to grant adjournment - Held that:- The AO was wrong in assuming that the assessment for the Assessment Year 2009-10 was getting time barred on 31.12.2010 and on that mistaken belief he has proceeded to estimate the income of the assessee u/s 144 of the Act - the reason given by the Assessing Officer not to give adjournment was clearly on an erroneous basis - AR of the assessee could not represent before the Assessing Officer on 10.11.2010, since he was pre-occupied with matters getting time barred - there was reasonable cause for the assessee not to have attended before the AO on 10.11.2010 – thus, the order of the CIT(A) set aside – Decided in favour of Assessee.
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