Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (1) TMI 694 - ITAT AHMEDABADPenalty u/s 271F - assessee has filed return of income in response to the notice u/s 148 and not filed original return of income u/s. 139(1) - HELD THAT:- It is pertinent to note that the assessee failed to furnish return of income as required under sub-section (1) of Section 139 of the Act; but the penalty was initiated after passing of assessment order u/s. 147 of the Act. AO has initiated the penalty u/s. 271F of the Act after the completion of assessment order u/s 147 of the Act. Though there is no time limit prescribed under the Act, it has to be within the stipulated or reasonable time that the penalty should have been initiated. No doubt, the assessee has failed to furnish the return of income u/s 139(1) of the Act, but when the assessee received the notice u/s 148 of the Act, the assessee duly filed the return of income. But the assessee has not given any reason as to why he has not filed original return of income u/s. 139(1) of the Act on or before 31.03.2016. Therefore, the assessee is liable to pay the penalty u/s. 271F of the Act. The appeal of the assessee is dismissed.
|